Hyderabad Will Get 11 New Malls By 2020: Cushman & Wakefield
As many as 34 new shopping malls, covering 13.6 million sq ft area, are expected to come up in top eight cities by 2020 as the scope for retail real estate remains high, according to Cushman & Wakefield.
Hyderabad will see maximum 11 malls by 2020, followed by Delhi-NCR 8 malls, Bengaluru 6 malls, Chennai 4 malls, Kolkata and Mumbai 2 malls each and Pune one mall. No new supply is expected in Ahmedabad. “India will see close to 34 new malls by 2020 in the top 8 Indian cities,” the consultant said in a report.
Leasing of retail space in malls increased by 55 per cent during January-September this year at 2.3 million sq ft. However, new supply saw a year–on–year decline of 63 per cent at 1.9 million sq ft. As many as 34 new shopping malls, covering 13.6 million sq ft area, are expected to come up in top eight cities by 2020 as the scope for retail real estate remains high, according to Cushman & Wakefield.
Hyderabad will see maximum 11 malls by 2020, followed by Delhi-NCR 8 malls, Bengaluru 6 malls, Chennai 4 malls, Kolkata and Mumbai 2 malls each and Pune one mall. No new supply is expected in Ahmedabad.
“India will see close to 34 new malls by 2020 in the top 8 Indian cities,” the consultant said in a report. Leasing of retail space in malls increased by 55 per cent during January-September this year at 2.3 million sq ft.
However, new supply saw a year–on–year decline of 63 per cent at 1.9 million sq ft.
-AFP
