Of the total new shopping Mall centers, only the first seven cities will see 69 new shopping centers
The remaining 31 shopping centers cover an area of 13.5 million square feet. It will be offered in cities of level 2 and 3 such as Ahmedabad, Lucknow, Indore, Surat, and Nagpur.
Bangalore: Despite the recent decline in consumer spending, shopping center developers remain optimistic about the potential for organized retail growth, as there are 100 new shopping centers covering more than 49 million square feet. It is expected to reach the entire country in late 2022, said real estate consultant Anarock.
Of the total new shopping centers, only the first seven cities will see 69 new shopping centers distributed in 35.5 mn square feet. Area.
The remaining 31 shopping centers cover an area of 13.5 mn square feet. The company said in a statement that it will be offered in Tier 2 and 3 cities such as Ahmedabad, Lucknow, Indore, Surat, and Nagpur.
The cities of western, western and southern India will see new supplies almost the same.
West India will acquire 36 new shopping centers with an area of 17.5 mn square feet, followed by southern India with 35 new shopping centers with an area of approximately 17 mn square feet.
The northern region will see 22 new shopping centers covering 11 million square feet.
East India will see more modest supplies from seven new shopping centers distributed in almost 3.5 mn square feet.
Anuj Kejriwal, CEO, and CEO of Anarok Retail said: “2019 was determined by the significant decrease in leasing and, therefore, this generous new offer for shopping centers over the next three years attests the confidence of private equity investors in the accumulated retail potential of India. “
“The retail sector accounted for $ 2.8 billion in 2015-2019 public business flows, 59 percent of foreign investors alone.
Despite the generally weak consumer spending, F&B, family entertainment centers, cinemas and beauty/health services outlets continue to thrive and demand a new commercial space.
He said consumer spending will recover as the government intervenes to boost consumption in the coming quarters.
The Mumbai Metropolitan Area (MMR) exceeds 18 new shopping centers with 7.8 million square feet.
The National Capital District (NCR) is produced after 13 new shopping centers distributed in 7.5 mn square feet.
Hyderabad will see the launch of 12 new shopping centers in an area of more than four mn square feet.
Bangalore and Chennai will see the pumping of nineteen shopping centers, respectively, and a total of 10.8 mn square feet.
Pune and Kolkata will see four and three new shopping centers respectively.
Between Tier 2 and III cities, Ahmedabad has distinguished itself with up to six new shopping centers scheduled to arrive in the city at the end of 2022.
These new shopping centers will be distributed in an area of more than 3.2 mn square feet. The statement said.
Lucknow offers a similar image and plans to add it to four new shopping centers by the end of 2022.
The western cities of Surat and Nagpur will see a new supply of two commercial complexes covering 0.7 million square feet and 0.85 mn square feet. The area said.
Picture Source: DNA India