Defying any ears of a market slowdown, liquidity crunch and rising inventories, the April-June period saw a 65% growth in retail mall space supply across India over the previous quarter
Shipra Group has appointed Manik Dhodi as their Vice President, Retail and Hotels. Manik has been associated with Shipra Group since June 2009 as Head – Mall Operations.
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.
Buying an office or retail space is a huge investment, which is why commercial real estate has been traditionally seen as an asset class that only institutional investors or heavyweight HNIs could invest in.
Demand for residential development will continue to remain unabated, but the requirement of real estate by retail industry over the next five years and even thereafter will provide a major thrust to the property market in India, said CB Richard Ellis’ global president Robert E Sulentic.
The concept of international, standardized luxury floor space must evolve further before India can absorb the demand. Developers must come up with more imaginative ideas of differentiating their luxury malls from the run-of-the-mill.
A mammoth increase in planned supply of retail malls in India will increase retail companies’ bargaining power vis-à-vis real estate developers.
KORUM, Mumbai’s largest Shopping Mall by Kalpataru Retail Ventures Pvt Ltd, a Kalpataru Group company, has won the ‘Emerging Retailer of the Year Award’ (Real Estate) at the 7th Asia Retail Congress, held in Mumbai recently.
Urbanization rate is on the increase – and while there had been a few setbacks over the past few years, the Indian luxury retail market is firmly back now. The economy once again supports the rationale for spending on luxury goods, and it will continue to do so.
For the third consecutive year, Jones Lang LaSalle was awarded the ‘International Property Consultant Of The Year’ Award at the Asia Retail Congress for Excellence in Retail, held on 8–9 February 2011 at Hotel Taj Land’s End in Mumbai. Jones Lang LaSalle India won the award by a landslide, beating all other competing international property consultants.