Skip to main content

HYD 23 IN UNDER CONSTRUCTION SHOPPING SPACE

Delhi-NCR ranks 21st in the global list of cities with the maximum shopping centre space under construction in 2014, according to property consultant CBRE. India continues to see a wave of new shopping mall development despite some developers pushing back completion dates due to financing issues, CBRE said in a statement. "New Delhi is ranked 21, Hyderabad 23, and Bangalore 31, among global cities with the maximum shopping centre space under construction in 2014," the consultant said quoting from CBRE Research's latest report 'Global Viewpoint'. It said 39 million sq m etre of shopping space is under construction across world's major cities and out of that India accounts for nearly 1.5 million sq metre. Around 5,00,000 sq metre of new retail space is under construction in New Delhi. The largest two projects, DLF Mall of India at Noida (204,385 sq metre) and Logix City Centre Mall (1,11,483 sq metre) are both located in Noida. Among tier-II cities, Hyderabad is the most active market with a current supply pipeline (4,83,000 sq metre), which is three times greater than its existing stock. Chennai was ranked 15th in the global list of most active shopping centre development markets in 2013. "Globally, a total of 39 million sq meter of shopping centre space is currently under construction across the world's major cities, representing a three million sq metre increase from 2013. Most of this development activity for shopping centre space around the world is focused in China," CBRE said. According to the report, more than half of the shopping centre space under construction in the 180 countries surveyed is taking place within China's borders. Shanghai takes the first position with 3.3 million sq m of space under construction, which is more than the combined space under construction i the total 86 European cities, excluding those in Russia and Turkey. Just behind Shanghai is Chengdu with 3.2 million sq m, followed by Shenzhen and Tianjin with 2.7 million sq m and 2.5 million sq m under construction, respectively. CBRE South Asia CMD Anshuman Magazine said: "Strong economic growth in many Asian markets has been attracting an increasing number of cross-border retailers. Even though China remains by far the most active market for shopping centre development, the tier I and II cities of India are also among the most active globally". "Unfortunately, however, there continues to exist a dearth of quality shopping space in many of our market places. Along with the large-scale urbanisation of our leading cities and a burgeoning middle class population, it is this that has been driving shopping center development forward," he added. This is the third year that CBRE has measured the level of shopping centre development in the world's 180 major cities. Survey was based on new centres of over 20,000 sq meter and excluded retail warehousing and factory outlet centres.

Comments

Popular posts from this blog

JIO TARIFF CICK FOR TELECOM STOCKS

Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…

STOCK MARKET WELCOME NEW YEAR WITH LOSS

Sensex drops 244 pts
A late sell-off in auto, banking and IT shares pulled back the benchmark BSE Sensex from record high level to close down by 244 points, its biggest single loss in past one month, on the first trading day of 2018. Investors preferred to book profits at record highs amid concerns over fiscal slippages and rising crude oil prices and absence of cues from global markets which were closed for the New Year holiday. The benchmark Sensex touched a low of 33,766.15 before settling lower by 244.08 points, or 0.72 per cent, at 33,812.75. This is the biggest single-day fall since December 1 when the index had lost 316.41. The 30-share index had closed at an all-time high of 34,056.83 in the last session of 2017 on Friday. Also, the 50-share Nifty cracked below the 10,500-mark to hit a low of 10,423.10 before settling 95.15 points, or 0.90 per cent down at 10,435.55. Stocks opened on a weak note and remained range-bound for the better part of the day but an intense sell-off in…

NIFTY EARNINGS FLAT IN 2018

UBS Cautious Note

Projecting zero returns from the Nifty, Swiss brokerage UBS has projected a 10 per cent cut in its index target at 10,500 for calendar 2018, even as it remains positive over the long-term. "Top-down, we forecast Nifty earnings growth will recover from 9 per cent in fiscal 2018 to 13 per cent in 2019, but driven largely by financials," the brokerage said in a report. "However, earnings growth is likely to disappoint against consensus forecast of 22 per cent growth for fiscal 2019, implying a 10 per cent cut," it added. Accordingly, the brokerage estimates "no returns from the Nifty in 2018" and has set the index target at 10,500 for this December. The report noted that a sharp earnings recovery, with continued robust macro stability appears priced in by the markets. "A sharp earnings recovery appears priced in. The markets are already close to our 2018 target, given optimistic fiscal 2019 consensus earnings expectations, which build …