Mall vacancies highest in Ahmedabad, says report
Ahmedabad may have been one of the fastest growing cities in the country but it has topped the list in terms of vacant space in shopping malls.
According to a retail market report released by real-estate consultants Cushman & Wakefield, between April and June 2012, the overall mall vacancy in the city stood at 34 per cent, which is the highest in the country, being followed by NCR and Pune.
Ahmedabad comes at the top in spite of the fact that no new mall has been open in the last 6 months. The report indicates the shortage of ‘quality’ supply in the city as the prime reason behind the phenomenon.
With malls operating at high vacancy levels, developers in Ahmedabad have refrained from launching new projects in this segment and hence there is hardly any new mall coming up in the near future.
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Source: Business Line
Ahmedabad, Cushman & Wakefield, office space availability, Realty News, Shopping centres, Shopping malls, vacant space
