Sheth Developers pre-leased half of their upcoming 1 million sq ft 'Vivacity' mall in Thane, Mumbai, to retailers like Hypercity, Shopper's Stop, and Cinepolis, indicating a resurgence in commercial real estate demand.
Mantri Developers launched Mantri Square, one of India's largest malls, in Bangalore. The mall features metro connectivity, 252 retail outlets, and a public-private partnership with BMRCL.
DLF abandons mall plan in Chennai due to recession, seeks residential project approval.
Retail space development in India lagged by 54% in 2008, with only 34 of 74 planned malls delivered. High vacancy rates and economic slowdown contributed to developers deferring projects.
Parsvnath Developers launched its first integrated commercial mall in Jamnagar, Gujarat, costing Rs 120 crore. The project spans 13,200 sq m and is expected to generate Rs 120 crore over three years.