The last few months have seen a lot of mid-sized office and mixed-use buildings in Mumbai going under the hammer. Not very surprising, considering the wave of real estate redevelopment that has swept the city. What is so unusual about these buildings is the fact that they are going to be redeveloped into stand-alone retail formats.
Judging by feedback obtained from a cross-section of Indian retail players, it emerges that most retailers perceived 2011 to be a flat year.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
Battling huge vacancies, piling inventories and lacklustre rentals, the Indian real estate is looking forward to retail FDI as a savior, expecting a windfall following the entry of global giants looking for more retail space for expansion.
With FDI now permitted for multi-brand retailing in India, global retail giants are now zeroing in on India.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Franchising is basically the replication of a successful business model format across locations through like-minded partners.
Retail chains across the country are signing up for space in a big way, after a long pause that had followed the economic downturn.
The demand for office space in Chennai is expected to dip, with an expected slowdown in North American and European countries affecting the information technology sector.
Unitech Ltd is expanding its retail development business and plans to invest around Rs.2,000 crore over the next three years to develop about 2 million sq. ft of premium and luxury shopping malls.