The total organised retail mall space in the city (including satellite towns of Gurgaon and Noida) is close to 9 million sq ft, concentrated in about 50 shopping malls, and accounts for about one-fifth of the country’s retail capacity. It is also the first choice for new brands entering the country.
However, the quality of retail space in the city lags behind Gurgaon and Noida, with barely 41 per cent of the overall retail space in Grade A mall developments, compared to 70 per cent and above for these satellite towns.
And in the quarter ended June 2102, demand for retail space in Delhi came primarily from clothing and accessory brands, food and beverage, and electronic equipment vendors.
However, absorption volumes saw a 69.0 per cent drop in the second quarter from the previous quarter, with net take-up at 170,985 sq ft. Nevertheless, overall vacancy rates dropped to 24.7 per cent in the June quarter, a 60 basis points drop on a sequential basis. Overall, rents stagnated at Rs 242 per sq ft per month.
SELECT CITYWALK, SAKET: With more than 500 brands featured here, Citywalk is often regarded as the hallmark of modern retail in Delhi. Spread across 13 lakh sq ft and recently, Starbucks opened its first mall café in the country here. Apart from that, it is one of the very few malls in the country which features 12 cosmetic brands.
It has also recently added high-end lifestyle brands like Sephora and Armani Jeans, amongst others. Clearly, the mall is strategically designed and each block here caters to different segments of consumers.
What’s more, in tune with its strategy to offer the best in class experience to affluent South Delhites, the mall offers services including Hands Free Shopping, which allows a shopper to have someone else carry her bags.
Pacific Mall has brought the best of high street brands to West Delhites, who otherwise had to drive a long way to shop. With
anchor tenants including Zara, Auchan and Splash, this mall also recently added Karmik’s first store in Delhi. Apart from that,
this mall also offers all the brands from the well known Major Brands, with its focus on fashion.
This mall offers a multi-level car parking for 1,600 cars, and one of the largest multi-cuisine food courts in the city.
AMBIENCE MALL, GURGAON: Nearly onefourth of the brands featured here are from luxury segment. And, this mall is especially popular with tourists who account for about 20 per cent of its footfalls. This mall also, has a focus on children and offers Stellar’s Children Musuem.
It was also an early adopter of mobile technology, and offers an application which highlights discounts offered at outlets here.
The Grand Venice: Spread across four million sq ft, The Grand Venice is all set to be a tourist destination mall that will offer the Venetian beauty and culture. Coming up at Greater Noida, the mall will offer three distinct genres of shopping, including Canal Shops, Mansions and San Marco Square.
Not just shopping, shoppers can also enjoy the Gondola rides and India’s first underwater aquarium spread across 100,000 sq ft. This mall will be a one-stop destination for the family and kids to shop for a day or stay and enjoy over several days.
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