'Retail Real Estate : Malls in India' released

26 Sep '05

2 min read

The second edition of 'Retail Real Estate : Malls in India' was jointly released by Dr. Ajay Dua, Secretary Commerce & Industry, Mr. Ravi Raheja, Director, K Raheja Corporation and Mr. Kishore Biyani, MD. Pantaloon Retail at the recently concluded India Retail Forum (IRF) in Mumbai.

Over 375 Shopping Centres with some 90 million sq. ft. to map Indian retail by 2007

Indian Retail will see over 34 million sq.ft of shopping centre space by the yearend reveals the Images 2005 report on shopping centre development in India.

The projection for emerging retail space by end-2005 stood at 26.4 million sq.ft of built-up area when last compiled in February 2004. This second report details over 32 million sq.ft of mall space by the year end and 2 million sq ft. more would be under development that could not be listed.

Performance beyond expectation is all the more significant in the backdrop of adverse reports and predictions on this sector - ground reality would suggest that observed developments are but just the tip of the iceberg.

Based on a complete list of shopping centres developments taking place across the country, the projection for listed developments by 2007 end is 358 shopping centres with a total built up area of 87.8 million square feet, growing at the rate of over 60% per annum.

There would at least 20 more developments, details of which were yet to come and which could not be incorporated for publishing in the book. Adding them to the listed developments the total built up area is expected to exceed 90 million sq.ft.

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