Only 12% malls running successfully in Delhi-NCR
19 May 2015
Of the nearly 100 operational shopping malls in the national capital, only around 12 are running successfully even as the region is known as the 'mall capital of India', according to property consultant JLL India, PTI reported.
As against this, Mumbai with about 45 malls has 10-15 well performing malls.
The top seven cities of India – Delhi, Mumbai, Pune, Bangalore, Kolkata, Chennai and Hyderabad, between them have a total of 255 operational malls.
''With nearly a hundred malls in the Delhi-National Capital Region (NCR), it has become the default mall capital of India. No other city comes close to the number of operational malls that are found in Delhi-NCR,'' JLL India MD (Retail Services) Pankaj Renjhen said in a statement.
However, from a business perspective very few of them are successful. ''In Delhi NCR, there are around 95 operational malls out of which 12 malls are successful,'' he added.
Nevertheless, according to Rejhen among all the above cities, Delhi-NCR is currently best placed for hosting successful, large-sized malls.
Even as they faced tough competition from other malls and high-street retail, only four malls, according to the consultant closed down and one was converted into office space.
The success rate of malls varied, usually on factors like design and layout, the brand positioning, location and how well they catered to the needs of their target segments.
Further, there were factors like how they had been able to evolve into family destinations rather than just remaining shopping centres played a big role.
