Mall culture just got bigger, better

Mall culture just got bigger, better

Shoppers delight

C K Ramamurthy, Chairman of the BBMP Town Planning Standing Committee, said: “The number of malls is on the rise in the City unabated. There are so many commercial complexes and smaller malls. The trend of malls will always continue, as the city and its population continue to grow,” he said.

Mantri Square at Malleswaram was started in 2010. In the first three months of its operation, it recorded footfalls of close to 44 lakh. Presently, the mall gets footfalls of almost 15 lakh every month, said a spokesperson for Mantri.

Large scope

“There is still tremendous scope for malls in Bangalore – malls are the best form of organised retail. Currently, organised retail is still quite low for a City like Bangalore. The city can comfortably take about 20 more malls,” said the spokesperson.

Banking on the trend, four IT youth from ‘Inovvorx’ have even started what they call the country’s first ever social networking website catering to branded firms and brand crazy youth.

Called, the site brings clothes, jewellery, accessories, movies, electronics, eatouts, bars among 32 different categories, on a single platform. It provides real time updates of events, offers, prizes and anything related to companies. Ascendas Park Square hopes to cater to 27,000 IT employees, along with their families.

Apart from the existing 2.8 million sq ft of land at ITPL, it has 2.5 million sq ft of vacant land, on which it plans to build integrated communities where Special Economic Zones combines with residential areas, shopping, entertainment and much more.

Easy decision

Thomas Teo, CEO India of Ascendas, says choosing Bangalore to start a mall was an easy decision.

“Bangalore has a very commercial crowd. But its malls are very utilitarian, run-of-the-mill shopping buildings. The city’s people need malls that are different, with more scope for entertainment,” said Teo.

The city needs FDI in retail to grow economically, said Karen Tan, High Commissioner of Singapore to India.

“Singapore has benefited in a major way through FDI in retail. Also, we have grown without forgetting the smaller businesses. Bangalore, in particular, must allow FDI in retail and also work closely with local businesses.”

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