New malls: 11 million sq ft to be built in 2017
The current pipeline of mall supply for 2017 looks strong with approximately 11 million square foot (msf) of mall supply expected to become operational across the 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. While these malls would be spread across the city, majority of the malls would be seen in the north-west quadrant in locations such as Kondapur, Gachibowli and Chandanagar, says a new report by Cushman & Wakefield. Following closely on the heels of Hyderabad is Chennai that is likely to see supply of 2.5 msf during 2017, it adds.