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Reviving 'ghost malls' in India could unlock Rs 357 crore in annual rentals, as per a recent report.
Summary
A recent report indicates that revitalizing underperforming shopping centers ('ghost malls') in India could generate significant revenue. Reinvigorating just 15 such centers, covering 4.8 million square feet, could unlock Rs 357 crore in annual rentals.
Key Points
- Approximately one-fifth of India's operational shopping centers are classified as 'ghost malls'.
- Reinvigorating 15 such centers is the focus.
- The revitalized space covers 4.8 million square feet.
- Potential annual rental income from these centers is estimated at Rs 357 crore.
Full Article
Nearly one-fifth of India's operational shopping centres fall into the category of 'ghost malls' and reinvigorating just 15 such centres with 4.8 million square feet space can unlock Rs 357 crore in annual rentals, a report said on Tuesday.
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