Retail mall space to expand by 2021
The group serves customers in more than 180 countries and has offices in about 40 countries.
Kolkata: The apparent gung ho over e-commerce and online sales growth notwithstanding, it looks like physical retailing is here to stay. In fact, it is growing as well. India's retail mall space is set to rise to 95 million square feet by 2021 from the current level of 75 million square feet in the top 7 cities of the country with NCR, Hyderabad and Bangalore leading the supply, if the latest study report by REED Exhibitions India, an arm of RELX Group and the world's leading events organiser with over 500 events in 30 countries last year, is anything to go by.
RELX Group, on its part, is a global provider of information and analytics for professional and business customers across industries. The group serves customers in more than 180 countries and has offices in about 40 countries. The report titled 'Malls of India' is the 9th edition and was released on Wednesday.
Interestingly, Ashutosh Limaye, Director and Head, Anarock Consulting Services, also said that on a pan-India basis, India's retail space is set to rise to 120 million square feet over the next 3 years from 100 million square feet now in Grade A mall space. Significant supply is also expected in Tier-II and Tier-III cities.