NEW DELHI: Eight shopping malls spanning 2.6 million square feet are expected to become operation in Hyderabad in 2017, according to a recent report by Cushman & Wakefield. The city will see highest supply of malls this year.
While these malls would be spread across the city, majority of the malls would be seen in the north-west quadrant in locations such as Kondapur, Gachibowli and Chandanagar.
Anshul Jain, Managing Director, India, Cushman & Wakefield said, “Retail mall
spaces have, in recent times, seen interest from institutional investors which is providing an additional boost to developers to take up retail malls
. Further, once India also starts listing REITs, quality retail spaces will be seen as a viable mid to long term investment asset for investors. This has further enhanced the attractiveness of retail mall
spaces for developers. This is perhaps the reason why 2017 is expected to see nearly double the amount of retail space as against 2016.”Following closely, Chennai will witness five shopping malls
getting operational spanning over 2.5 million square feet during 2017. Most of the supply is likely to be in seen in peripheral locations such as Vandalur, Navalur, while two of the malls
will become operational in Velachery during the year.
Upcoming shopping mall supply in 2017: