Bullish on the growth of retail sector in India, Raheja group company Inorbit Malls said On Wednesday it would invest around Rs 1,500 crore (Rs 15 billion) over the next three years to build malls in west and south India.
Inorbit, with two malls in Mumbai and its environs, now plans to spread its wings to other cities in the country by next year.
While there was a sharp drop in footfalls in malls in H1FY21, there was reasonable recovery in H2. However, the second wave derailed the recovery.
Almost all the big mall developers/investors - such as Raheja-owned Inorbit Malls, Xander-APG joint venture Virtuous Retail South Asia (VRSA), property developer Prestige Estates Projects, and Blackstone-owned Nexus Malls - are looking to double their space in a year or two.
What's the mantra for reviving ghost malls? Most important, a right mix of products. They also need to transform into community spaces.
Venky's Mumbai Fighters were thrashed 5-0 by LA Matadors last week, but spectators at the T-Box arena, in Mumbai's Inorbit Mall were treated to rich fare in the World Series Boxing, says Laxmi Negi.
Among the options being weighed are discounts on existing rentals, short-term deferrals, and 50 per cent waivers.
Footfall at malls are down 20-25 per cent in the past couple of years.
Retailers and multiplex operators want mall owners to either forgo rent for the period of the shutdown or lower rent in the event the mall is open but footfalls are low.
The actress joined her Shootout At Wadala costars for the film's music launch at a city mall.
A look at what your favourite celebrities have been upto.
Consultants who help lease these properties say this is the steepest decline at least in a decade.
Experts feel that mall owners anticipate an increase in costs to the tune of 15-20 per cent annually, prompting a mixed response to the '24 hours' initiative. A mall owner said while the policy is good in spirit, implementing it would be a challenge as night shopping or eating out wasn't a habit in Mumbai yet.
Groceries, apparel, computers, phones and sporting accessories are among the most popular. There is also a growing trend of men visiting the store, rather than women.
As the Venky's Mumbai Fighters' fight night approaches, Olympian Diwakar Prasad is jostling against time. After a lull of almost seven years, all of a sudden, his life is witnessing too much activity.
His team is not faring well in its first season in the World Series of Boxing. But Udit Sheth is not prepared to throw in the towel, says Laxmi Negi.
Dowdy wine and liquor shops are making way for swankier alternates.
Spencer's, the Indian retail chain, is showcasing a wide range of US products at the "American Food Festival" from September 14 to October 7, 2007 at 29 stores in the Delhi and Mumbai.
This is the first audition of its kind in 45 years. The Femina Miss India beauty pageant held a wildcard entry special at Inorbit Mall in Mumbai on January 10 and 11. See who won!
For his latest, Ghajini, which is already created an enthusiastic buzz within the industry as well his Aamir fans, the actor is reaching out to his viewers in a rather interesting fashion.
With his Mumbai sojourn,Wal-Mart Vice-Chairman Michael Duke gave enough signals that Wal-Mart is testing waters before it actually enters the organised retail in India.
A major fire broke out at the set of Adipurush, a film starring actors Prabhas and Saif Ali Khan, in suburban Goregaon on Tuesday afternoon.
The final five will have to watch the film on August 21 at Mumbai's Fame Inorbit Mall at 7 pm. The one who can sit through the horror film, Phoonk, alone in the theatre, will win Rs 5 lakh.
The Don music launch held in Inorbit Mall was a smash hit.
The Telugu film industry reaches out to Chennai.
'Today, practically everything has become virtual; even weddings are taking place on Zoom calls.'
'Today, practically everything has become virtual; even weddings are taking place on Zoom calls.'
A look at the top tweets from your favourite Bollywood celebrities.
Renowned realtors are shying away from the private equity (PE) route to raise funds.
PlayStation Experience, Sony Computer Entertainment India's annual showcase of the best offerings from its PlayStation brand, kicks off.
Reader Khalil Abhyankar sent us this picture from Mumbai.
Barring stray incidents of violence like stone pelting, the shutdown called by the MVA allies Shiv Sena, the Congress and the Nationalist Congress Party was largely peaceful.
The Swedish fashion-retail brand cracks open the Indian market faster than its competitors, gaining from an aggressive pricing and retail policy.
Chefs in Mumbai are unleashing their creativity to woo gourmets with global vegetarian fare. Mini Ribeiro picks her 10 favourite restaurants.
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