Hyderabad sources have stated that 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. Accordingly 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.
Currently no new supply is expected in Ahmedabad. “India will see close to 34 new malls by 2020 in the top 8 Indian cities”. Meanwhile it was stated that the leasing of retail space in malls increased by 55% during January to September this year at 2.3 million sq ft. However, new supply saw a year on year decline of 63% 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.
Furthermore 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.