Nearly 11 million sq ft of new retail space in 2017

Rise of disposable income has coupled with growing interest from institutional investors is giving a boost to developers to take up retail malls space building which is expected to touch around 11 million sq ft in 2017 across top eight cities, according to a recent survey. The report by property consultant Cushman & Wakefield, in 2016, said the supply of retail space by the organised touched a five-year high to 5.3 million sq ft across the Indian cities. In 2016, the highest supply of malls was noted in Delhi-NCR with over 3.1 million sq ft of new mall supply, followed by Mumbai (9 lakh sq ft) and Pune (8 lakh sq ft). According to the report, nearly 11 million sq ft of new retail space will boost in 2017 with Hyderabad, which is among the least-penetrated markets, will likely witness the highest supply of malls during the year. Signage players whose jobs are involved in in-shop branding, designs and graphics must tap this fresh opportunity the year 2017 brings up.