The skilled acknowledged that all through the identical time interval, potential retail gross sales in Indian malls are predicted to extend at a CAGR (Compound Annual Progress Charge) of 29%, reaching USD 39 billion by FY2028.
Mall potential consumption is anticipated to strategy pre-Covid-19 ranges in FY2023, rising to USD 11 billion. Based on Vivek Rathi, Director of Analysis at Knight Frank India, there could be a 50-55 million sq. foot enhance in new retail area in malls over the following six years, which can end in larger gross sales at buying facilities.
He stated that the growth of organized retail consumption in addition to the economic system had been thought-about. Based on Knight Frank, the overall mall inventory on the finish of the primary half of the 2022 calendar 12 months was 8.6 million sq. meters (92.9 million sq. toes), distributed throughout 271 energetic malls within the prime eight markets.