MUMBAI: Despite consumer sentiment taking a hit on account of demonetisation, new mall supply in India across top eight cities is set to double in 2017 as leading domestic and international retail brands are planning expansion on expectation that the consumer spending would pick up pace gradually as the economy stabilises.
As per global property consultant Cushman & Wakefield, the current pipeline of mall supply for 2017 looks strong with approximately 11 million square feet of mall supply expected to become operational across the eight cities. In 2016, the supply of new malls touched a 5-year high of 5.3 msf across the top eight cities.
Hyderabad, which is among the least-penetrated markets, will likely witness the highest supply of malls during the year. Spanning 2.6 msf, eight malls are likely to become operational in Hyderabad during 2017. Chennai and Mumbai hold the second and third spot.
