t means commercial real estate is sitting on bubble territory. Witness the near empty Grand mall after the exit of Westside and landmark. Almost 2 floors empty on the metropolis Mall on MG road...Star Mall in Sector 30 on NH 8 is still 80% empty. For that mater even Ambience mall has not found any new occupant after reliance timeout exited and in all probability Reliance living might also exit. Some stores like Steve Madden, Super Dry store and a host of other ones on the ground floor with exorbitantly priced products and with very little footfall on weekends may eventually fold up in a year or two. There is no justification for continuing to run operations in Indias highly priced real estate market.Not to mention the newly constructed Regent Mall bang next to Grand Mall andSenior Mall next to beverly Park are still EMPTY for a nearly a year after their launch still waiting for tenants....I have never seen such a surfeit of retail space in my life anywhere which is still going abegging..STRANGE. About office real estate the less said the better notwithstanding the paid reports of the likes of CUSHMAN AND WAKEFIELD and Knight Frank...ALL A HOGWASH.
Posted on: Sat, 25 Oct 2014 08:01:33 +0000
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