In 2005 Punjab had just two operational malls, encompassing a total of 270,000 sq. ft. area of gross leasable area, the state is now on the threshold of a major retail boom in the year 2006.
Nine new projects are scheduled to be completed by end-2006, taking the total mall space to 31.8 lakh square feet, a near 12-fold increase in just one year! These figures are mong the highlights of a pioneering IMAGES-CII Study.
Lesser projects will be completed in year 2007, but again by end-2008 there is to be a four-fold increase in mall-space from the 2006 level, to over 152-lakh sq. ft. coming from 33 operational malls. Further seven more projects have been announced that will take the number of malls in Punjab to over 40 by the year 2010, thus clearly highlighting the tremendous opportunities that Punjab offers.
The “Retailing in Punjab: 2010 and Beyond” report studies how the socio-economic health of state, especially the pattern of private consumption expenditure, and also the pattern along which urbanisation takes shape in the particular region are the basic determinants of retail potential that the region promises.
With consumer spending above national average and a flourishing network of over 150 urban centres, Punjab can boast of some of the most compelling opportunities for its discerning investors.
The landmark study also contains vision statements and goals of heads of leading national and regional brands and retailers across categories.
marketing@alchempro.com
