Mall owners cut rent to attract retailers
Mall owners in the Bangalore city are being forced to attract retailers by making irresistible offers in an inactive market.
Some of the mall owners cut rent by 30 per cent to woo retailers, while some others are waiving off the maximum guarantee that retailers to pay, or are offering a three-months rent free and relaxation of lock-in, deposit and notice periods.
The retail real-estate segment in India is currently in stagnation with the retail sector experiencing de-growth of 10% in like-to-like store sales as buyers continue hesitate to spend. This has impacted the amount of new space retailers are leasing.
To read more real estate news:
Real estate projects face delay in approvals
Source: Economic Times
Bangalore, inactive market, India, Leasing, Mall owners, Realty News, Realty sector, retail real estate, retail sector, Retailers
