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The India Shopping Centre Forum (ISCF) 2013 started off at Hotel
Renaissance, Powai, with a Masterclass by Ian Watt, Director, Pioneer
Property Zone, who spoke about the A-Z of becoming a successful mall
manager. He touched upon the basics of mall management and went on to
give the interactive audience a few examples of well-managed malls. Soon
after, the foundation session of the day was held. Touching upon the
top of Retail Real Estate – Market Analysis and Outlook, were doyens of
the Retail Real Estate industry – Anshul Jain, Chief Executive – India,
DTZ; and Sanjay Dutt, Executive Managing Director, Cushman and
Wakefield.
In his presentation Dutt said that out of the 25 billion dollars that came into India in the last financial year, only 3 billion came out as capital, with a majority stuck in shopping centres. The dynamics behind this, he said, include geography, emerging retail terms and the lease terms. He analysed that Pune has the maximum amount of vacancies in malls across the country. Moreover, inspite of the rise in the mall culture, the high street still helps new brands create an identity, and is, therefore, still flourishing.
In his presentation Dutt said that out of the 25 billion dollars that came into India in the last financial year, only 3 billion came out as capital, with a majority stuck in shopping centres. The dynamics behind this, he said, include geography, emerging retail terms and the lease terms. He analysed that Pune has the maximum amount of vacancies in malls across the country. Moreover, inspite of the rise in the mall culture, the high street still helps new brands create an identity, and is, therefore, still flourishing.
Jain gave a presentation on ‘Retail 2020 – Change is Coming; Are our Shopping Centres Ready?’ He said that in real estate, retail is the most exciting asset and once a mall is built, it is almost half the work done. Today, Indian shopping centres like Palladium in Mumbai and Emporio in Gurgaon are comparable with their international counterparts. The lesser the mall is stratified, the easier it is to manage. Jain touched upon the key factors that will affect the mall culture in 2020. These were increasing urbanisation, increasing middle class, regulatory reforms (like FDI), increasing quality of infrastructure, increasing disposable income of customers along with their heightened awareness of international standards and brands. He also predicted that the number of malls in tier-II and –III cities would increase from 56 in 2012 to 125 in 2020 with the size increasing from 16.7 million sq.ft. to 61.3 million sq.ft. Another factor that will augment this growth is the move from a facilities management to an asset management model, which has to be integrated into the very design and build of the mall.
The session ended with a short Q&A round.
SOURCE:http://www.indiaretailing.com/news.aspx?topic=1&Id=6970