Shopping malls in India’s tier-II cities like Jaipur, Lucknow, Kochi, Bhubaneswar and Nagpur, have attracted 58 per cent of the total retail investment over the last three years, according to global real estate services firm JLL. Encouraged by this, retailers like Fab India and Meena Bazaar are also shifting their attention from big metros to these cities.
“From garment sellers to home furnishing brands to leading grocery stores, all kinds of retailers are actively looking at the future potential offered in smaller cities as they seek to tap into more remote populations,” said Pankaj Renjhen, Managing Director for Retail in India at JLL.Shopping malls in India's tier-II cities like Jaipur, Lucknow, Kochi, Bhubaneswar and Nagpur, have attracted 58 per cent of the total retail investment over the last three years, according to global real estate services firm JLL. Encouraged by this, retailers like Fab India and Meena Bazaar are also shifting their attention from big metros to these cities.#
Not all malls, however, are doing well. Investment has been predominantly focused on superior quality malls in tier-II cities that enjoy strong transport links, infrastructure and rising levels of disposable income, all of which are serving to attract interest from both foreign and domestic developers, says a press release from JLL India. (DS)
ALCHEMPro News Desk – India
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