Big name developers are set to bring a number of malls with a size of over 1,000,000sq.ft to India.
The series of planned malls will be 30-40 per cent bigger than previous Indian malls, with the considerable spaces designed to "make room for entertainment and services beyond shopping."
Developers Prestige, Phoenix, DLF, Lulu and Unity are some of the names behind the planned malls, which will be bigger than the more standard sizings of 500,000-700,000sq.ft.
Construction Week India expects that these larger sizes will transition perceptions of malls in India as being more FEC-like spaces, commenting that the companies are "adding auditoriums and dedicated areas for social activities and a fulfillment centre for brands in the mall."
The Bengaluru-based Prestige group has nine malls under construction, in Bengaluru, Hyderabad, Chennai and Kochi, with the "majority" of locations being the aforementioned size of 1,000,000sq.ft It is adding auditoriums and dedicated areas for social activities and a fulfillment centre for brands in the malls.
Harsh V Bansal, co-founder of the Unity group, commented that: "In addition to malls getting bigger, it is also important for them to have a mixed-use development. Malls with offices nearby are doing better than the standalone ones. More area allows a developer to have a mix of brands, helping them to bring a range of consumers."
Dubai’s Lulu group is also set to double its portfolio going forward, with developments planned for Noida, Greater Noida, Ahmedabad, Chennai and Hyderabad.
These expanded retail spaces are expected to open up within three to six years.
