BAN­GA­LORE

Images Retail - - COVER STORY -

Mar­ket Sum­mary

Leas­ing ac­tiv­ity in Ban­ga­lore dur­ing H1 2018 was wit­nessed across or­ga­nized retail de­vel­op­ments such as VR Mall, Phoenix Mar­ket City Mall, Park Square Mall and Garuda Mall. There was neg­li­gi­ble ad­di­tion of fresh sup­ply as most de­vel­op­ments are sched­uled for com­ple­tion in H2 2018.

The city wit­nessed the launch of sev­eral retail out­lets. These in­cluded Pro­ject

Eve (VR Mall) and Street Mama (F&B) in Garuda

Mall, Home­lane (fur­ni­ture) in Park Square Mall, along with Min­iso (va­ri­ety store) in Phoenix Mar­ket City Mall. Across the high street seg­ment, brands such as Xiaomi, Ur­ban Lad­der, Ca­sio, 1441 Pizze­ria, Pana­sonic, One Plus and Pasta Street con­tin­ued to ex­pand across prom­i­nent high street lo­ca­tions such as 100 Feet Road In­dira Na­gar, Jayana­gar and JP Na­gar.

Rental Trends

On a half-yearly ba­sis, rental val­ues for high street lo­ca­tions of Com­mer­cial Street, Jayana­gar 11th Main 4th Block, Kam­mana­halli /HRBR Lay­out ap­pre­ci­ated by about 4-9%, ow­ing to in­creas­ing de­mand for qual­ity retail space. However, rentals for 100 Feet Road In­dira Na­gar and New BEL Road re­mained sta­ble. Among or­ga­nized mall de­vel­op­ments, half-yearly rental in­cre­ments in CBD/

Off CBD, South Ban­ga­lore and ORR were in the range of 3-5%, however, East Ban­ga­lore wit­nessed an in­crease of around 11-13%. On the other hand, rental val­ues for the mall clus­ters of West Ban­ga­lore re­mained largely sta­ble.

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