Growth of malls: South India to dominate says JLL

 

According to the survey, the retail real estate activity in the South has gained notable momentum in recent years and it is expected to continue in the medium term. 

Mumbai: With nearly 59 malls in the pipeline in South India, share of the region's retail stock is expected to increase from 20 per cent to 36 per cent by 2016, says a survey by Jone Lang LaSalle (JLL).


"The share of the South states' retail stock to the national stock is expected to record a notable increase from 20 per cent in 2011 to 36 per cent by the end of 2016.

Development of retail malls will be primarily dominated by local developers," JLL said.

The survey said a total of 59 malls are either proposed or in various stages of construction across the three major southern cities -- Bangalore, Chennai and Hyderabad.