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Understanding Retail Real Estate
| May 18, 2007 |  (Be the first to rate this story!) Loading ... |
The mall mania seems to have captured the entire India. The ability of a real estate developer to recognize and come up according to ever-changing consumer and market trends is a key to be successful in retail real estate.
To keep up pace with the stiff competition in retail market, the builders are planning specialty malls that enjoy a higher conversion rate as they cater to specific needs of consumers.
Since, retail is such a component which possesses great potential to push property values of the overall development, many shopping malls are being given shape as part of residential development.
Of such an unorganized sector, the organized retail real estate has been growing by leaps and bounds for the past few years. From a mere miniscule 0.9 million sq. ft. in 1999, it shot up to 28 million sq ft. Interestingly, industry connoisseurs expect it to grow to 143 million sq ft. by 2009-10.
Indian Retail Sector is attracting large interests from foreign players whose entry can put the sector in a new growth orbit. According to reports compiled by major estate agents, investments worth about $30 million are being planned for the coming years. Of this, 70% is believed to come from seven entities including Reliance Industries Limited, Aditya Birla group, Bharti-Wal mart, Future Group, and others. And, the companies such as Tesco, Wal Mart, Carrefour, Auchan, Metro, and others are known to be the contributing partners.
However, the demand for properties, where the consumers can benefit from a large variety of retail options is a vital factor for the success of retail business in India. Seeing the ongoing as well as future outlook in retail sector in India, specialty malls are going to stay with their distinct features. Generic malls will soon be crowded out. Thus, investors can expect healthy profits if making investments in retail sector.
News Published Under: Retail Market in India |
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