A study by the leading realty consultant Cushman & Wakefield (C&W) says, fresh supply of mall space across the major eight metros stood at 5.7 million sqft, which is more than 60 per cent less than the mall space projections made at the beginning of the year, as most retail players put on hold their expansion plans in the wake of the economic slowdown.
However, the agency said this slowdown in mall construction need not be viewed as a negative growth indicator for the retail real estate segment, as this will bring in stability to the retail industry.
The current pace of mall space delivery is expected to help in maintaining a healthier supply-demand equation, especially for the oversupplied micro-markets, he added.
C&W said of the proposed 44 malls at the beginning of the first quarter in this year, only about 18 were delivered by the year-end.
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