Recognising malls

and shopping centres as a

new-age industry
September 2023
 Recognising malls and shopping centres as a new-age industry

Contents
Foreword 4

Chapter 1: From marketplaces to megaplexes:

The rise of shopping centre industry and its role
in India's US$5 trillion economy 7

Chapter 2: Building a shopper's paradise: The

evolution and expansion of malls in India 11

&KDSWHU8QYHLOLQJWKHULSSOHH΍HFWVΖPSOLFDWLRQVRI 
shopping centre industry on various stakeholders 17

Chapter 4: Experiencing cityscape marvels: A closer look

at four renowned malls across tier 1, 2, and 3 cities in India 31

Chapter 5: Transforming destinations: Global malls

and the synergy of stakeholders in elevating tourism 39

Chapter 6: Navigating obstacles: Key challenges for

shopping centre industry in India and initiatives
for overcoming them 45

End note 47

Bibliography 48

Connect with us 50

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Recognising malls and shopping centres as a new-age industry

Foreword
As an integral part of the retail industry, the and other levies. This revenue helps the
shopping centre industry will play a vital government in developing infrastructure,
role in driving India’s goal of achieving a improving public services, and building
US$5 trillion economy. With annual revenue social welfare programmes. Malls are also
close to INR 1,80,000 crore, employment to a significant contributor to infrastructure
1.2 crore people1, and INR 35,000 crore as development, providing a boost to
tax to the government, the shopping centre construction, architecture, and interior design.
industry plays a significant role in driving
economic growth and fostering employment Furthermore, malls have a significant impact
Mukesh Kumar opportunities . The industry not only provides on society at large. Shopping centres are
Chairman, SCAI revenue to the government but also helps build incorporating sustainability and social
chairman@scai.in the nation’s social infrastructure and provides responsibility into their operations by
a platform for global and domestic brands to adopting green initiatives, such as utilising
enter the Indian market. Thus, it offers several solar and wind energy and implementing
benefits to consumers, the government, and waste recycling programmes to minimise
society at large. their environmental footprint. They provide
employment opportunities for many people,
One of the key benefits of malls is that they including sales associates, security personnel,
provide consumers with a range of choices and housekeeping staff. In addition to the
for products and services. Malls offer a one- consumer survey, we conducted a survey
stop-shop for customers, allowing them to of mall employees to comprehend how the
purchase several things they need in one place establishment of malls has impacted job
along with facilities, such as parking, an air- opportunities for them.
conditioned comfortable environment, hygienic
washrooms, dining options, children’s play Despite the many benefits that malls offer,
Rajat Wahi
area, and much more. These facilities make the they face several challenges that can hinder
Partner, Deloitte India
malls an attractive and convenient shopping their growth and development, such as lack of
rajatwahi@deloitte.com
destination for people of all ages. To better industry status, lengthy license processes, and
understand the impact of the shopping center the unavailability of credit support. For this
industry on consumers and society at large, we paper, we collaborated with industry experts
conducted primary research. The purpose of including mall owners, builders, and brands
this research was to determine the shopping to explore the advantages and obstacles
preferences of consumers and whether the associated with malls.
opening of malls provides the amenities
they seek when they choose to shop, dine, or This publication presents a survey-based
partake in leisure activities. analysis of the effects of the shopping centre
industry on different stakeholders. It identifies
In addition to providing a convenient several measures that can be implemented to
shopping experience, malls also contribute enable their growth. We express our gratitude
to the government’s revenue through taxes. to all the industry participants who generously
Malls generate significant revenue for the provided their valuable insights to help us
government through property tax, GST, produce this report.

4
Recognising malls and shopping centres as a new-age industry

5
Recognising malls and shopping centres as a new-age industry

6
 Recognising malls and shopping centres as a new-age industry

From marketplaces to megaplexes:

The rise of shopping centre industry
and its role in India's US$5 trillion
economy
India’s GDP has been on the rise in the recent years, driven • Rise in urbanisation-Indian urban population is expected
in large part by consumption. The consumption has far to rise from 33.53 percent4 in 2017 to 60 percent5 in 2050
been powered by several socioeconomic and demographic
factors, including the following: Rising urbanisation coupled with increased disposable
income will lead to a greater number of household units
• A growing middle class2
that are pre-disposed to discretionary expenditure.
• A significant consumer demographic - ~65% of India's
population falls within the key consumer cohort of 18
to 55 years old3

Figure 1: India’s GDP (US$ T) over the years and Indian consumption (US$ T) as % of GDP6,7
3.2

2.0

1.2

0.5 1.9 59.6%

0.1 1.2 58.1%

0.7 55.8%
0.3 64.1%

1974 2001 2007 2014 2021

India’s GDP (US$ T) Private consumption (US$ T) Private consumption as % of GDP

7
Recognising malls and shopping centres as a new-age industry

The Government of India has set a goal of making India a US$5 trillion economy8. GDP growth is driven primarily
by the following three factors:

Consumption expenditure
The biggest driver, making ~59.5%
%
of the GDP on average over the years9

Government expenditure
Spend by the government on infrastructure, which
generates employment and money circulation

Capital expenditure
Investments by corporates to cater to
increasing demand

The consumption expenditure is the biggest driver for GDP • It encourages consumption via advertising and
growth and India’s private consumption is expected to more promotions.
than double to US$4.5 trillion by the end of the current
• It provides consumers access to avenues of
decade10. With this the retail industry is bound to play a
consumption, such as malls, high streets, shopping
VLJQLȴFDQWUROHLQKHOSLQJΖQGLDDFKLHYHLWVJRDORIEHFRPLQJ
complexes, multiplexes.
a US$5 trillion economy11 due to the following reasons:

• It is the primary channel through which goods and

services are made accessible to consumers.

Figure 2: Retail sector in India FY22

US$0.8 T 8% 10% 10%

Retail market Share in India’s Contribution to Expected growth
size in employment13 India’s GDP13 rate of retail sector
India12 over the next 10
years13

Organised brick and mortar retail, a considerable part thus contributes to about 1.2 percent of India’s GDP. In the
of which are malls and shopping centres, is expected to IXWXUHWKLVȴJXUHLVH[SHFWHGWRJURZDVFRUURERUDWHGE\
grow at a faster rate of ~17 percent CAGR14 (for 2022–2028) the increase in the number of malls from just 3 in 2000 to
than the overall retail market. It accounted for about 12 more than 530 in 122 cities by 202216
percent of the overall retail market in India in 202215 and

8
 Recognising malls and shopping centres as a new-age industry

Figure 3: Organised retail sales vs. sales in Indian malls in the top 8 cities17
136

116

99

85

73

62
58

39

30
~29%
23
~14% 18
14
8 11

2022 2023 2024 2025 2026 2027 2028

Organised Retail Sales Expected retail sales volume in Mall sales as % of

(US$ B) Indian malls (US$ B) organised retail sales

Apart from driving consumption, malls also drive economic employees) and indirectly (for example, suppliers,
growth via impact on multiple aspects of an economy, such delivery drivers, etc.)
as the following:
• Stimulating local businesses by attracting customers
• Boosting tourism by providing shopping and to the area
entertainment options for visitors
Thus, with adequate support from various stakeholders
• Contributing to infrastructure development through
in terms of an attractive investment climate, enabling
the construction and maintenance of the mall,
infrastructure development, and promotion of consumer
which serves as a social infrastructure available for
awareness, the growth of malls and shopping centres can
common use
be accelerated. This can drive economic growth, create jobs,
• Contributing significantly to the tax revenues of the and stimulate local businesses, all of which are key factors
government through property taxes, GST, and other in achieving the US$5 trillion economy goal.
means, leading to an increase in tax revenue for the
government; which can then utilise these funds to
finance public services and infrastructure, thereby
potentially benefiting the economy

• Creating jobs, both directly (for example, mall

9
Recognising malls and shopping centres as a new-age industry

10
 Recognising malls and shopping centres as a new-age industry

Building a shopper's paradise:

The evolution and expansion of
malls in India
The history of malls in India dates back to the 1890s, with new malls in Mumbai & Delhi, respectively18. From just
WKHRSHQLQJRIDGHSDUWPHQWVWRUH7KHȴUVWPDOOLQΖQGLD three malls in 200018, the retail mall industry has rapidly
opened post-independence in 199118. The growth of malls expanded, with malls becoming a popular destination for
in India gathered pace in 1999 with the opening of two shopping, dining, and entertainment.

Figure 4: Growth of mall space in the top 8 cities in India over the years 19,20

27 1
24 6
23 2
21 9
20 3 21 2
18 0 18 8

13 0
11 5
90 93
69 67 70 76
54 55 61 62
52
37 34 40
24 21 28
1 2 3 4 8 8 11 14
5

1995 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2022

Cumulative Number of Mall Openings Cumulative Mall Space (mn sq ft.)

Out of the 500+ malls across India21, as of H1 2022, 271 number of shopping malls in India, about 50 percent of
malls are operational with a total area of 92.9 million the stock is concentrated in these markets: NCR has the
square feet in the top eight markets22: Ahmedabad, largest share of the total malls amongst the top 8 cities
Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, at 34 percent, followed by Mumbai at 18 percent, and
National Capital Region (NCR), and Pune. Out of the total Bengaluru at 17 percent22.

11
Recognising malls and shopping centres as a new-age industry

Figure 5: Operational mall stock in India in top 8 metro cities, in mn. sq. ft. as of H1, 2022 (also as % of the overall stock)22

34%

31.7 17% 16.1 16% 15.2 7.5

8%

7.2 7.1 5.6 2.5

8% 8%
6%
3%

NCR Mumbai Bengaluru Chennai

Hyderabad Pune Kolkata Ahmedabad

In addition to existing supply, about 60 Figure 6: Split of the 23.25 mn. sq. ft. shopping mall supply 2023-202523
shopping malls encompassing a total retail
space of 23.25 million square feet are Kolkata
expected to become operational during 2023– 4%
25 across the top seven cities of India. Out
of this, 10 million square feet are expected Pune NCR
to get operational in 2023 with 25 new malls 10% 35%
entering the market across the top seven
cities of India23. This fresh supply will mean an
investment of ~INR 250 billion24. Though the Hyderabad
supply seems to be robust, but with: 17%
• omni channel retailing becoming an
integral part of retail strategy for most of
the brands,

• global retailers entering India, Chennai

6%
• increasing institutional investment in retail,
in comparison to demand, the available
supply isn’t enough. Bengaluru Mumbai
18% 10%

12
 Recognising malls and shopping centres as a new-age industry

Apart from substantial retail space in the seven cities • Lulu Group recently launched a 2.2 million square feet
mentioned, above prominent developers plan to establish shopping mall in Lucknow in July 2022 It added Lulu
shopping malls in Tier 2 and Tier 3 cities. With 30 percent Trivandrum in December 2021. It is also constructing
of India’s middle class residing in these areas25, Tier 2 and malls/hypermarkets in Calicut, Kottayam, Tirur,
Tier 3 are key contributors to retail growth in India. Other Perinthalmanna, and Palakkad.
attractive factors are the lower rental rates and operating
• Pacific Development Corp is reportedly working on
costs, which are estimated to be 30-40 percent lower
constructing a mall covering an area of 1.5 million square
compared to bigger cities.26 Tier-2 and 3 cities received
feet in Jaipur.
US$6.2 billion in overall retail investments from 2006 to
ȴYHWLPHVPRUHWKDQPDMRUΖQGLDQPHWURV26 Due • AB Alcobev and P.P. Buildwell are coming up with mixed-
to these factors, established developers are opening a use developments in Mohali
considerable number of high-quality retail properties in
Tier-2 and -3 cities27,28, for example: Thus with existing and multiple developments underway,
malls and shopping centres continue to play a big role in the
• Phoenix Mills opened a mall in Indore in Dec 2022. It is
growth of the retail industry and the overall economy.
also opening malls in Ahmedabad and Surat.

Figure 7: Malls and the shopping centres industry in India (CY)29

Revenue & Tax Infrastructure Employment

INR 1.8 INR 31,500 INR 1 lakh INR 27,000 12 million 10 million
lakh crore crore crore crore workforce livelihoods are
employed for blue-collar
of annual of the net investments further
directly and workers who
revenue annual GST LQȴ[HGDVVHWV investment
indirectly are close to
generation collections across the planned
subsistence
countrywide country
wages

Comparing the shopping centre industry to similar latter employs a larger number of people, both directly
revenue-generating industries, such as the hotel and airline and indirectly.31,32
industries can provide a clearer understanding of its impact
• With annual revenue close to INR 1,80,000 crore
on the economic activity of India as these industries involve
and employment to 1.2 crore people33, the shopping
not only revenue and employment generation but also
centre sector is even larger than the airline industry,
infrastructure development:
which generates a business of ~95,000 crore (aviation
• The annual revenue generated by hotels in India, ~INR industry’s combined net sales)34 and employs
1.8 lakh crore30, is comparable to the revenue generated fewer people.
by the malls and shopping centre industry. However, the

13
Recognising malls and shopping centres as a new-age industry

Figure 8: Malls and the shopping centres industry vs. other industries of India35

High

Agriculture & Allied services

Textile
Number of people employed

Malls & Shopping Centre s

Hotels Construction and Engineerin g
Aviation IT and services
Automobile
Pharma Logistics and T ra nsportatio n
Touris m

Coal Telecommunication
Steel
ON G
Chemicals

Bubble size represents size of the indust ry

Low % Contribution to GDP High

7KHVHLQGXVWULHVUHFHLYHQXPHURXVEHQHȴWVIURPWKHJRYHUQPHQWLQFOXGLQJEXWQRWOLPLWHGWR

Dedicated ministry E.g. Ministry Of Civil Aviation, Ministry Of Tourism, Ministry Of Steel, Ministry Of Chemical
Fertilizers, Ministry Of Coal

Tax/duty benefits E.g. Goods and Services Tax (GST) rate reduced to 5 percent from 18 percent for domestic
Maintenance, Repair and Overhaul (MRO) services for aircraft35
E.g. Aircraft Leasing and Tax Incentives35
E.g. Duty credit equivalent to 5 percent of the foreign exchange earned for hotels35
E.g. Export Promotion Capital Goods Scheme (EPCG) for hotels in India offers a 3 percent
concession on customs duty for the import of capital goods35

Policies and schemes E.g. Promotion of private investments for building infrastructure in existing and new
airports through the PPP route35
E.g. The Government of India recognises hotels as export/trading houses with benefits,
such as self-declared customs clearance, priority input-output norms within 60 days,
no compulsory bank negotiation, 100 percent retention of foreign exchange, extended
repatriation period, Target Plus consideration and exemption from bank guarantees under
policy schemes35

14
 Recognising malls and shopping centres as a new-age industry

The shopping centre industry receiving similar support Overall, malls and shopping centres are important
in the form of tax incentives, infrastructure support, socioeconomic and cultural consumption centres
and streamlined regulations would grow faster and that contribute to both economic growth and social
play an even larger role in driving economic growth well-being. The socioeconomic and cultural impact of
DQGFUHDWLQJMREV7KLVFRXOGEHQHȴWFRPPXQLWLHVDQG the malls and shopping centre industry is explored
consumers by providing more diverse shopping and further in the next chapter.
entertainment options.

15
Recognising malls and shopping centres as a new-age industry

16
 Recognising malls and shopping centres as a new-age industry

8QYHLOLQJWKHULSSOHH΍HFWVΖPSOLFDWLRQV
of shopping centre industry on various
stakeholders
0DOOVDQGVKRSSLQJFHQWUHVVHUYHERWKFXOWXUDODQGHFRQRPLFSXUSRVHVDQGW\SLFDOO\R΍HUDGLYHUVHVHOHFWLRQRI
retail and entertainment options thus impacting four key stakeholders:

Consumers Larger community Nation Retailers

1. Implications for consumers

We conducted a survey covering more than 150 consumers from a range of age and income groups throughout India to
understand their shopping preferences w.r.t. malls and high streets. The survey results were analysed to identify the impact
of opening of malls on the life of consumers.

)LJXUH$JHJHQGHULQFRPH LQODNKSHUDQQXP DQGUHVLGHQFHSURȴOHRIVXUYH\SDUWLFLSDQWV

Male Female
5-15
10-25
15-30
55% 45% 29%

26-40
<5 >30
68%

41-60

3%

17
Recognising malls and shopping centres as a new-age industry

(Figure 10) When asked about the main reasons for The integration of social elements and shopping has made
visiting malls or high streets, survey participants PDOOVDQGVKRSSLQJFHQWUHVDQLQFUHDVLQJO\VLJQLȴFDQWSDUW
indicated that aside from shopping, these places serve of the cultural fabric of a communities.
as hubs for leisure activities, socialising, and recreation

Figure 10: Survey response for question: What are your top reasons for visiting malls?

82% 73% 56%

Shopping Watching movies Dining

56% 22% 18%

Leisure outings with Gaming zones Festival celebration (via
friends and family IHVWLYHGHFRUHYHQWVR΍HUV 

11% 10% 8%
Acitivites and play Music concerts/ Exhibitions
area for children comedy shows

18
 Recognising malls and shopping centres as a new-age industry

When choosing to visit a shop-dine-leisure venue, the most crucial deciding factors for the place of choice, as indicated in Figure 11
include the following:

Cleanliness (general hygiene,

Parking facilities (ease of parking,
PDLQWHQDQFHRIȵRRULQJFOHDQ
availability of parking spots)
washrooms)

Entertainment options (special events, theme-based

Accessibility (convenient location, distance of the
events, promotional events, exhibitions, recreational
place from home/workplace, operating hours)
facilities and areas, play area for children)

Aesthetics/Ambience (aroma, music, lighting, Infrastructural services (washrooms, cash

décor, architecture, temperature, ventilation) machines, place to sit, elevators, escalators)

Figure 11: Survey response for question: For your visit to malls or high streets for shop-dine-or-leisure, please select the top 5–7
attributes that are most important to you

Cleanliness Tenant-mix/
64% 37%
R΍HUYDULHW\

Orientation/
Accessibility 61% WUDɝF 31%
management

Shopping
Aesthetics/
56% centre 30%
ambience
personnel

Prices 56% Safety 30%

Parking 51% Promotions 24%

Social
Entertainment 47% positioning/ 23%
socialisation

Infrastructural 38%
services

In the following questions, we compared malls and When evaluating factors that provide shopping comfort,
high streets to determine which provides a better survey participants chose malls and shopping centres over
H[SHULHQFHIDFLOLW\EDVHGRQNH\IDFWRUVWKDWLQȵXHQFHWKH high streets (Figure 12).
choice of the avenue.

19
Recognising malls and shopping centres as a new-age industry

Figure 12: Survey response for question: Please choose the option which provides better
service against the facility mentioned

Has convenient opening hours 41 % 18 % 39 % 3%

Is at a convenient location? (in

terms of accessibility, distance 44 % 20 % 34 % 3%
from home/workplace)

+DVVXɝFLHQWQXPEHURI
74 % 7% 14 % 5%
parking spaces

Easy to maneuver the car

74 % 5% 14 % 7%
around the parking area

The shopping area is

FOHDQ FOHDQȵRRULQJFOHDQ 76 % 5% 16 % 3%
washrooms, # of disposal bins)

I feel safe in the shopping area

(from accidents/against acts of 64 % 7% 25 % 4%
terror)

I visit the place late night for

74 % 3% 17 % 5%
movies

The temperature of shopping

76 % 7% 14 % 3%
area is at a comfortable level

Shopping area is easy to walk

63 % 11 % 24 % 3%
around even if it is crowded

The information available

PDNHVLWHDV\WRȴQGDVSHFLȴF 63 % 11 % 21 % 5%
store

6DOHVSHUVRQQHOKDYHVXɝFLHQW
knowledge to answer 43 % 14 % 39 % 3%
customers’ questions

+DVVXɝFLHQWQXPEHU 
82 % 3% 14 % 1%
conveniently located toilets

Has satisfactory number of

45 % 17 % 32 % 6%
cash machines

+DVDVXɝFLHQWQXPEHURI
benches, chairs etc. for the 59 % 14 % 16 % 12 %
customers to rest

7KHVKRSSLQJSODFHLVȴOOHG
with a pleasant aroma and 73 % 5% 16 % 6%
music

Malls/ shopping compl exes High s treets

20
 Recognising malls and shopping centres as a new-age industry

Figure 13: Survey response for question: Please choose the option which provides better service against the
facility mentioned

Has some attractive decorative features inside, outside, and around the shopping area (e.g. fountains, sculptures, etc.)

60% 13% 25% 1%

2΍HUVDUDQJHRISRVVLELOLWLHVIRUVSHQGLQJOHLVXUHWLPH

48% 16% 33% 3%

2΍HUVDQDUHQDWRVRFLDOLVHDW GXHWRRYHUDOODPELHQFHDQGVLPLODULW\RISHRSOHYLVLWLQJWKHFHQWUH

49% 14% 30% 8%

Has various themed events (promotional events, festive events, exhibitions)

56% 13% 29% 3%

Has a spacious and properly equipped play area for children

75% 5% 14% 5%

(QKDQFHVFHOHEUDWLRQRIIHVWLYDOV YLDG«FRUVWDOOVIRUORFDOKDQGLFUDIWVIHVWLYDOR΍HUV

42% 22% 34% 3%

Malls/ shopping compl exes High s treets

21
Recognising malls and shopping centres as a new-age industry

:KHQLWFRPHVWRR΍HUSHUFHSWLRQVXUYH\SDUWLFLSDQWV national and international) as well as number of price

chose malls and shopping centres over high streets in promotions GLVFRXQWVVKRSDQGZLQR΍HUVDQGRWKHU
factors such as variety of products and brands (both incentives) (Figure 14).

Figure 14: Survey response for question: Please choose the option which provides better service
against the facility mentioned

Has better variety of shops (quality, product range, width and breadth of assortments)

45% 23% 32%

Has many famous brand stores (international and national brands)

61% 11% 29%

Has frequent price promotions (promotional schemes, number of price promotions, programmes for loyal
customers)

53% 17% 27% 3%

Has a wide range of bars and restaurants

41% 28% 26% 5%

Has many local brand stores

24% 48% 26% 3%

2΍HUVEHWWHUSULFHWRVKRS SULFHYDOXHUDWLRGLVFRXQWV

22% 47% 27% 4%

Malls/shopping complexes High streets

%RWKR΍HUVLPLODUIDFLOLW\ 1RQHR΍HUWKHPHQWLRQHGIDFLOLW\

About 70 percent of the survey participants believe malls streets have a better representation of value products. A
R΍HUSURGXFWVWKDWDUHSUHPLXPand 63 percent said they few of the reasons for their preference to shop from malls
prefer to shop at the malls despite the same though high are highlighted below in Figure 15.

22
 Recognising malls and shopping centres as a new-age industry

Figure 15: A few of the reasons for the preference to shop in malls

Quality of products, brands, multiple stores available at same place, good places to eat

Can trust the quality of product

Malls present a better experience at making an outing out of a shopping trip.

Less hassle, concentration of shops.

Get multiple options to chose and can visit multiple brands at one place

Better quality of products. Availability of washrooms. Clean washrooms. No honking and other types of
noise in the mall. Cleanliness.

The safety, ease of convenience, cleanliness, and hygiene of malls provide me with more incentive to go
to shopping malls than high streets.

Proper dressing rooms and more shops to visit

Everything at one place and better ambience

0DOOVDUHDPXOWLSXUSRVHSODFHΖFDQȴQGGUHVVIRRGJURFHU\DOOXQGHURQHURRI7KHSULFHPLJKWEHVOLJKWO\
PRUHEXWWKHUHDUHPXOWLSOHR΍HUVDVZHOOZKLFKPDNHVSULFHVDSSUR[LPDWHO\WKHVDPHQRZDGD\V0XOWLSODFH
WUDYHOOLQJFRVWLVVDYHGLQPDOOVΖFDQȴQLVKVKRSSLQJDQGHDWDQGUHWXUQZKHUHDVRQDKLJKVWUHHWΖKDYHWR
NHHSVHDUFKLQJIRUWKLQJVDVWKHUHDUHQRȴ[HGSODFHV5HWXUQH[FKDQJHSROLFLHVLQFDVHRIGDPDJHDUHQRWYHU\
well with high streets.

23
Recognising malls and shopping centres as a new-age industry

Thus for the consumers, malls and shopping centres:

• Serve as hubs for leisure activities, socialising, and recreation. Malls are successful in attracting people out of
their homes, thereby driving consumption.

• Offer a comfortable shopping experience with ample parking, ease of maneuvering, cleanliness, safety,
comfortable temperature, well-managed crowd, easy-to-find stores, knowledgeable sales staff, adequate
facilities, and a pleasant atmosphere.

• Serve as a safe and secure place for families to meet, socialise, and spend quality time together in urban areas
where there is lack of public areas for leisure activities. These are hangout spots for families and friends and
are often seen as community gathering places

• Offer enhanced shopping experience due to the availability of diverse products, large food courts offering
various cuisines, and a variety of shops with both international and national brand stores.

• Offer promotions, discounts, shop-and-win offers, and other incentives that are not typically available on high
streets.

• Due to the facilities provided, for the overall shop-dine-leisure activities consumers prefer to visit malls over
other shopping arenas and spend relatively higher time there.

Figure 16: Response of participants w.r.t their frequency of visit, duration of visit and experience of the visit.

Question: During your visit to malls or high streets for shop-

dine-or-leisure, where do you end up spending more?
Question: How often do you visit the avenue?

45 %
40 % 44 %
45%, A t mall s
27 % 33%, Similar
25 % 23 % spend in
23 %
16 % both
16 %
10 % 12 %
6% 9%

1% 3%
22%, A t high
Very Frequently Once or Once in two Rarely street s
frequently (once a week) twice in months
( >=2 times month

Destination malls Neighbourhood malls High Streets

Question: How do you feel about the overall shop-n-dine

experience when you are at a mall?

55 % 36%6% 9%

Destination malls Neighbourhood malls High Streets

24
 Recognising malls and shopping centres as a new-age industry

2. Implications for the larger community

Convenience: Malls provide a one-stop shopping Improved infrastructure: The construction of a mall
H[SHULHQFHIRUFRQVXPHUVR΍HULQJDZLGHUDQJHRI RIWHQUHTXLUHVVLJQLȴFDQWLQYHVWPHQWVLQLQIUDVWUXFWXUH
products and services under one roof. This convenience can such as roads, transportation, and parking facilities. This
save time and reduce transportation costs for residents, can improve the overall quality of life for residents in the
HVSHFLDOO\LQFLWLHVZKHUHWUDɝFFRQJHVWLRQLVDPDMRULVVXH surrounding areas. About 51 percent of the participants
Per our discussion with leading residential complex surveyed lived in proximity of the mall (within a 2 km radius)
GHYHORSPHQWȴUPVWKHPDMRULW\RIWKHXSFRPLQJ and according to them the presence of a mall enhanced
projects now have a space reserved for organised retail. their sense of belonging and safety in the locality and
also improved connectivity to the area (Figure 17).
Boost local businesses: Malls can bring increased
IRRWWUDɝFWRWKHVXUURXQGLQJDUHDZKLFKFDQ
EHQHȴWORFDOEXVLQHVVHVVXFKDVUHVWDXUDQWVFDIHV
and service providers.

Figure 17: Survey response for question: Has the opening of mall…

Enhanced your sense of belonging in that locality? (Feeling

better about located there)

Yes, 82% No, 18%

Enhanced the connectivity or transportation in and around in your area?

YLDFRQVWUXFWLRQRIPHWURȵ\RYHUVHWF

Yes, 67% No, 33%

Enhanced your sense of safety in the locality?

Yes, 63% No, 38%

25
Recognising malls and shopping centres as a new-age industry

Increased property value: The presence of a mall can increase property values in the surrounding area. Per our
discussions with industry experts, the proximity of a shopping centre was found to increase residential property values by
0.2–2 times. An increase in rental income from the properties also happens to the tune of ~20 percent on average.

Figure 18: Survey response for question: Has the opening of mall

Led to real estate development in and around your area? (increase in rent, increase in
price of property, via opening of new commercial/residentials complexes, education
institutions, hospitals)

Yes, 87% No, 13%

Community gathering place: Malls can serve as a hub for community events and activities, such as holiday events, concerts, and
community service projects.

3. Implications for the nation

Boost to domestic Boost to

production consumption

Quality estate Revenue in form

for international of taxes
brands

Foreign Supporting other

investment industries

Tourism boost
via improved Job creation
infrastructure
Skill
development

26
 Recognising malls and shopping centres as a new-age industry

Increased tax revenue:0DOOVJHQHUDWHVLJQLȴFDQWWD[ to track shopper behaviour and provide personalised

revenue for the government through taxes on sales, recommendations, use of data analytics to track customer
property, and corporate income. As stated, the shopping behaviour and preferences, which can help brands make
centre industry contributed INR 31,500 crore of the net GST LQIRUPHGGHFLVLRQVDERXWPDUNHWLQJDQGSURGXFWR΍HULQJV
collections countrywide in the previous year. Malls share For one such Chennai-based company that provides SaaS-
12–15 percent of annual revenue as taxes to the state based solutions for mall operations, their entire business
and centre government.36 FRPHVIURPPDOOV3HUH[HFXWLYHVDWWKHȴUPWHFKQRORJ\
adoption is better at malls than in other shopping arenas,
Supporting the growth of other industries: The growth of linking their growth to malls.
certain industries is closely tied to the development of malls.
Some of these include the following: Job creation: Malls and shopping centres generate
employment for 12 million workforce38. ~90 percent of the
Multiplexes – According to the Multiplex Association of jobs created are blue-collar jobs38. Per our discussion with
India, 70 percent of multiplexes are within malls and are industry experts, the malls strictly follow the labour laws
growing at a rate of 10–11 percent.36 The success and and as per them the blue-collar employees get paid 15–20
growth of such multiplex chains, which together contribute percent better than what they would be paid outside malls.
aSHUFHQWRIWKHLQGXVWU\ER[RɝFHUHYHQXH37, is closely In addition, the provision of facilities, such as a creche etc
linked to the development of malls. Malls provide facilities, support women’s participation in the workforce38.
such as hygiene, security, and comfort, thus providing
quality real estate for these chains to operate. In terms of Skill development: On an average malls across the country
employment, one multiplex screen directly employs around spend one hour per day38 on training employees across
15 people and an equal number indirectly. Therefore, the VNLOOVVXFKDVUHWDLOVHOOLQJFXVWRPHUPDQDJHPHQWȴQDQFLDO
VXFFHVVRIWKHPXOWLSOH[LQGXVWU\DQGER[RɝFHLQGXVWU\ KHDOWKȴUHVDIHW\
and their ability to employ a considerable workforce is
closely linked to the growth of malls. We interviewed 33 long-term mall employees across malls
in India, to understand the impact of opening of malls on
Technology providers – Malls integrate technology to employment opportunities.
facilitate daily operations in several ways. For example., the
use of mobile apps that allow shoppers to easily navigate
WKHPDOODQGȴQGVWRUHVWKHXVHRIEHDFRQVDQGVHQVRUV

)LJXUH$JHFLW\ MRESURȴOHRIVXUYH\SDUWLFLSDQWV

41-60 26-40
36% 64%

Male Female
27
Recognising malls and shopping centres as a new-age industry

In Figure 20, 97 percent of the employees reported an increase in income after joining the mall and 85 percent of the
employees mentioned that opening the mall improved job prospects for them.

Figure 20: Questions on employment opportunities w.r.t. opening of malls

27% (5-10%) 85% (Yes)

15% (> 30%)

15% (No)
3% (Did not change)
3% (<5%)
9% (21-30%)

42% (11-20%)

Question: Has your annual income Question: Has opening of the mall
increased after you joined the mall? improved job options for you?
By what percentage?

Figure 21: Responses to the question ‘How did the job prospects improve?

Opportunity to shift jobs after upskilling Upskilling Excellence in

and joining similar industries like airports, negotiation and sales
hotels, etc.

Learning, growth in work Various new job opportunities have emerged since malls have opened.
and compensation 7KLVKDVDOVRSURYLGHGDGL΍HUHQWHFRV\VWHPIRUYDULRXVȴHOGVVXFKDV
KRXVHNHHSLQJPDUNHWLQJȴQDQFHΖ7DPRQJPDQ\RWKHUV

2XUPDOOVDUH%6&VWDUFHUWLȴHGPDOOVZKHUHZHDUH
Great learning, working with management, and
OHDUQLQJQHZVNLOOVHVSHFLDOO\LQWKHȴHOGRIȴUHDQGOLIH
opportunity to shift jobs after upskilling
safety, the safety of guests, and providing better services
to the guests, for enhancing the customer experience

Retail prospective upskilling. Understanding of

shopping mall operations and rental business

28
 Recognising malls and shopping centres as a new-age industry

Improved infrastructure and boost to tourism: The in Mumbai was developed by the Phoenix Mills group. It has
FRQVWUXFWLRQRIDPDOORIWHQUHTXLUHVVLJQLȴFDQWLQYHVWPHQWVLQ UHFHLYHGVLJQLȴFDQW)'ΖLQYHVWPHQWVIURPIRUHLJQHQWLWLHV
infrastructure, such as roads, transportation, parking facilities. including Canadian pension funds. 40
This improves the overall quality of life for residents in the
surrounding area and reduces the burden on government Blackstone: Blackstone, a global real estate and private equity
resources. Such infrastructure development, especially of unique player, has been actively investing in India and has recently
attractions, such as large amusement parks, movie theaters, and launched its retail real-estate platform, Nexus Malls. The platform
branded stores, draws visitors from other cities and countries. owns and manages shopping malls across India.41
7KLVLQFUHDVHVWKHRYHUDOOWRXULVWWUDɝFLQWKHVWDWHDQGERRVWV
its tourism industry. Select examples of malls in India that have Several other companies as well, such as Lakeshore Retail
turned into tourist destinations include: Mall of India Noida, $GYLVRU\&DSLWD/DQG%URRNȴHOG3URSHUWLHVDQGRWKHUVPDGH
Select City Walk Delhi, Lulu Mall Kochi and Nexus Elante Mall similar investments in India.422YHUDOOWKHUHKDVEHHQVLJQLȴFDQW
Chandigarh. )'ΖLQȵRZLQUHWDLODVZHOODVIRUWKHGHYHORSPHQWRIPDOOVLQΖQGLD

Foreign investment: Malls can attract foreign investment to the 4. Implications for retailers
country, as international retailers seek to enter the Indian market. Quality estate for international brands: Malls in India provide
This can help boost the economy and support the government’s DTXDOLW\HVWDWHIRULQWHUQDWLRQDOEUDQGVE\R΍HULQJSULPH
H΍RUWVWRDWWUDFWIRUHLJQLQYHVWPHQWΖQVWLWXWLRQDOLQYHVWPHQWLQ locations, modern infrastructure, and attractive leasing terms. In
the retail sector has been picking up since 2021, with more than DGGLWLRQPDOOVRIWHQR΍HUH[WHQVLYHPDUNHWLQJDQGSURPRWLRQDO
US$862 million recorded from 2021 to 2022.39 The Foreign Direct DFWLYLWLHVWRGULYHIRRWIDOO7KLVR΍HULQJFDQEHDWWUDFWLYHIRU
ΖQYHVWPHQW )'Ζ LQΖQGLDDOVRȵRZVWKURXJKWKHFRQVWUXFWLRQDQG international brands looking to expand their presence in the
development of malls. A few examples of the same include the Indian market. Brands such as Pret A Manger, Balenciaga, Tim
following: Hortons, and Popeyes have either entered India or are in the
process43. Mentioned below are a few other brands that entered
DLF: DLF, a real-estate developer in India, and Singapore’s the Indian retail market through malls44,45.
sovereign wealth fund GIC have partnered to build the biggest
mall in Gurugram, India. The mall will cover more than 2.5 million
square feet of land, owned by DLF.40
Phoenix Marketcity: This retail and entertainment complex

Ambience Mall DLF Emporio Select City Walk The Chanakya

Uniqlo Tory Burch EA7 Saint Laurent

Paul Valentino Bugatti Creed

Replay Fred Perry Birkenstock Ralph Lauren

Choupette Tim Hortons Tiffany & Co.

H&M Home

Boost to domestic production: Several international brands Boost to consumption: Malls drive growth in the retail industry
that enter the Indian market through malls source some of by providing a modern shopping experience for consumers. This
their products domestically, which has helped boost local JLYHVEHQHȴWVWRERWKGRPHVWLFDQGLQWHUQDWLRQDOUHWDLOHUVDV
manufacturing. For example, as per website of a Swedish ZHOODVVXSSRUWVWKHJRYHUQPHQWȇVH΍RUWVWRSURPRWHWKHJURZWK
multinational furniture and home goods retailer, 20 percent of the retail sector. Per our discussions with leading retailers &
of products listed in it are ‘Made in India’. It works with 50 industry experts malls seem to have 1.5x - 1.6x growth compared
direct suppliers with more than 4,00,000 co-workers in the to high streets. These have ~1.5x daily footfalls with a 25% - 30%
Indian supply chain and sources materials from local suppliers higher conversion rate & higher average bill sizes compared to
for its furniture46. Another, Spanish clothing and accessories, high streets. Mall sales are also not impacted in peak summer/
UHWDLOHUVRXUFHVDVLJQLȴFDQWSRUWLRQRILWVFORWKLQJIURPΖQGLDQ winter season v/s high street sales which are impacted.
manufacturers47. This trend of global brands collaborating with
Indian manufacturers has provided a boost to the country’s
manufacturing sector and created job opportunities.

29
Recognising malls and shopping centres as a new-age industry

30
 Recognising malls and shopping centres as a new-age industry

Experiencing cityscape marvels: A

closer look at four renowned malls
across tier 1, 2, and 3 cities in India
In the previous chapter, we discussed the socio-economic & cultural impact of shopping centre industry, and in this section,
we will delve deeper by analyzing four prominent malls to gain a comprehensive understanding.

1. Lulu Mall, Kochi

Lulu Shopping Mall in Edapally, Kochi and Kerala is one of square feet, with 2 million square feet. for the shopping
the biggest shopping malls in India. It was opened in March centres and the rest for a 5-star hotel by JW Marriott. There
2013 and is headquartered in Abu Dhabi, UAE. Lulu Group are about 225 national, international, and local brand
ΖQWHUQDWLRQDO /XOX*URXS ZDVIRXQGHGE\0U0$<XVX΍ outlets in the shopping centre.48
Ali.48 The mall is spread across an area of about 25,00,000

Key project details49

Gross Leasable Area

1 million
square feet

1XPEHURIȵRRUV 4 levels (G+3)

Number of brands 225

Project cost ~INR 1,600 crore

Employees ~5,000

Parking 3,000 car parking

31
Recognising malls and shopping centres as a new-age industry

Now in its tenth year of operations, the mall has become a go-to destination in Kerala. In the past 10 years about 180 million people
have visited the mall. About 20 million people including 2 million tourists visit the mall each year.49

Mall facilities
7KHPDOOKDVRYHUWRSEUDQGVXQGHUDVLQJOHURRIDVHDWHUPXOWLFXLVLQHIRRGFRXUWȴQHGLQLQJUHVWDXUDQWVDQGFDIHV
For leisure and entertainment, the mall has a gold class 9-screen multiplex, South India’s largest ice-skating rink, a 12-lane bowling alley,
amusement rides, and a trampoline park.50

'L΍HUHQWLDWHGIHDWXUHVRIWKH/8/80DOO51 It also operates a mall in Lucknow, at present.

• There is a direct walkway that connects the mall

Direct employment: 52b7KHFRQVWUXFWLRQSKDVHRIWKH/XOX
with the Edapally metro station.
Mall, Kochi generated employment for 520 construction
• The mall is equipped with a state-of-the-art workers. At present, the mall provides 5,000 direct jobs,
automated parking guidance system that with 4,500 of those being provided by tenants. These direct
accommodates about 3,000 vehicles at a time. jobs mainly consist of skilled blue-collar and professional
white-collar positions, contributing to the growth of the
• The entire mall is enabled with free Wi-Fi and apps
service sector. Employees in these positions are estimated
guide the customers to navigate the brand stores
to receive 15–20 percent higher wages than the standard
and the ongoing offers in the stores.
wage rate.
• Safety and security systems, such
DVbILUHILJKWLQJbDQGDODUPV\VWHPV&&79 Indirect employment: 52b8SRQWKHVWDUWRIRSHUDWLRQVDW
monitoring, checking via metal detectors, Lulu Mall, indirect employment opportunities for~10,000
mandatory temperature screening, handicap workers were created across industries, such as
facility, baby strollers, escalators, lifts are also manufacturing, logistics, vendors, supply chain.
available.
Other implications: 52b7KHFRQVWUXFWLRQRIWKHPDOO
• The mall has centres for money exchange and bank
improved the surrounding infrastructure, such as
kiosks.
transportation facilities, bus stops, metro stations, auto
stands. This led to the development of residential and
FDI: 52b7KHGHYHORSPHQWRI/8/80DOOVKDVOHGWRbDQ
commercial spaces, increasing their property value. The
)'ΖbLQȵRZRIΖ15FURUHLQWR.RFKL.HUDODRQHRI
improved infrastructure attracted visitors from various
WKHbODUJHVW)'ΖLQbWKHUHWDLOVHFWRULQWKHVWDWH7KLVbLV
6RXWKHUQVWDWHVDQGGLVWULFWVEHQHȴWLQJORFDOVKRSVDQG
H[SHFWHGWRDWWUDFWRWKHULQYHVWRUVFRQVROLGDWLQJb.RFKLȇV
stalls by increasing their number of customers and sales.
status as an investment destination in the southern region
This has uplifted the livelihood of the residents and boosted
RIbWKHFRXQWU\/XOX*URXSKDVDOVRDQQRXQFHGSODQVWR
the overall economy of the area.
invest INR 4,500 crore to establish shopping malls, hotels,
and hypermarkets in six cities across Uttar Pradesh,
including Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur,
and Prayagraj. The upcoming mall in Sector 108, Noida will
include a luxurious 5-star hotel. In addition, Lulu Group has
already invested INR 2,500 crore in Uttar Pradesh for three
new projects, which include a Lulu Mall in both Varanasi and
Prayagraj and a Lulu Food Processing Hub in Greater Noida.

32
 Recognising malls and shopping centres as a new-age industry

2. Vegas Mall, Delhi

Vegas Mall in Dwarka, Delhi, is one of the biggest shopping for the shopping centre and the rest for luxury 5-star hotels,
malls in North India. The mall was opened in 2019 and business hotels, and other commercial spaces. There are
was built by the Unity Group. The mall along with other about 220 national and international brand outlets in the
commercial facilities is spread across an area of about shopping centre.53
20,00,000 square feet, with an area of 30,000 square meters

Key project details49

Gross Leasable Area

6.75 lakh
square feet

1XPEHURIȵRRUV
7 levels
(Levels (1+6))

Number of brands 220

Project cost ~INR 5,000 crores

Parking 1,800

Now in its third year of operations, the mall gets on an average 40,000 footfalls per day of which about 10 percent are tourists, 25–30
percent are from the Dwarka catchment area, and about 55–60 percent are Dwarka locals.55

Mall facilities 56
7KHPDOOKDVRYHUWRSEUDQGVXQGHUDVLQJOHURRIDQGR΍HUVDSOHWKRUDRIRSWLRQVIRUGLQHRXWHQWHUWDLQPHQWDQGDPXVHPHQWΖW
KRXVHV'HOKLȇVȴUVW3956XSHUSOH[IHDWXULQJVFUHHQFLQHPDKDOOVWKDWFDQHQKDQFHWKHWUDGLWLRQDOmovie-watching experience.

33
Recognising malls and shopping centres as a new-age industry

'L΍HUHQWLDWHGIHDWXUHVRIWKHPDOO56 the vaccination drive during COVID-19 in association with

Aakash Hospital.
• 7KHPDOObLVDWDPLQXWHZDONLQJGLVWDQFH
Direct employment: 57bThe construction of Vegas Mall
IURPb'ZDUND6HFWRUbPHWURVWDWLRQ
provided employment opportunities for more than
• The mall hosts a 90-day extravaganza of events, 500 construction workers during its development
spanning from Diwali to Christmas, Dev Diwali, and SKDVH3UHVHQWO\WKHPDOOR΍HUVGLUHFWMREVZLWK
Holi, creating a festive atmosphere throughout the 4,000 positions provided by tenants, 500 by the mall
year. management, and an additional 500 by third-party service
providers.
• Apart from the IMAX screen, the mall houses ultra-
premium LUXE auditoriums, and a special children’s
Indirect employment: 57 The mall's operations indirectly
PVR called the PVR Playhouse.
create an estimated 5,000 jobs, spanning various industries
• A leisure store called Fun City has been launched such as manufacturing, logistics, and vendor and supply
within the mall premises, catering to families chain services
seeking a fun-filled day of entertainment for kids and
teenagers. Other implications: 57 Beyond its economic impact, the
HVWDEOLVKPHQWRI9HJDV0DOOKDVFRQWULEXWHGWRDVLJQLȴFDQW
• The mall offers free parking space for around 1,800
increase of 20–25 percent in the value of residential and
cars and about 1,000 two-wheelers.
commercial spaces in the surrounding area. Additionally,
the presence of the mall has led to enhancements in nearby
Infrastructural facility: 57 The Vegas Mall has served as
infrastructure, including transportation facilities, bus stops,
one of the prime infrastructural facilities for various events
metro stations, and auto stands. This development has
VWDUWLQJIURPȴOPSURPRWLRQVWRFRPHG\VKRZVFRQFHUWV
generated increased business opportunities for local shops
etc. The local authorities use mall infrastructure to celebrate
and stalls, positively impacting the livelihoods of residents
various events, such as International Yoga Day, Women’s
and uplifting the overall economy of the region
Day, and many more. The Mall also acted as a centre for

34
 Recognising malls and shopping centres as a new-age industry

3. MGB Felicity Mall, Nellore

MGB Felicity Mall in Nellore, Andhra Pradesh, is one of the an area of 1,80,000 square feet for the shopping centre.
biggest shopping malls in Andhra Pradesh. The mall was There are about 55 national and international brand outlets
opened in 2016 and is owned by Mr M.G Gopala Krishna. It in the shopping centre.58
is spread across an area of about 3,20,000 square feet, with

Key project details49

Gross Leasable Area

1.8 lakh
square feet

1XPEHURIȵRRUV 4 levels (G+3)

Number of brands 55

Project cost ~INR 200 crore

Employees ~1,000 direct

Now in its sixth year of operations, the mall is one of the biggest shopping destinations in the Nellore district. On an average, the mall
has 18,000 footfalls per day of which about 50 percent are tourists from the surrounding areas of Nellore district and about 50 percent
are locals of Nellore.60

Mall facilities
The mall has more than 60 top brands under a single roof. The mall also features one of the largest gaming and amusement zones,
which includes bowling, cricket, and other recreational activities. 61

35
Recognising malls and shopping centres as a new-age industry

'L΍HUHQWLDWHGIHDWXUHVRIWKHPDOO61 mall provides about 1,000 direct jobs, with 200 from mall
management and 800 from tenants. These jobs consist
• 7KHPDOObRIIHUVWZREDVHPHQWSDUNLQJVSDFHVDQG
of both blue-collar as well as white-collar positions and
has adopted technological solutions to facilitate
R΍HUDZDJHSUHPLXPRIȂSHUFHQWFRPSDUHGZLWK
better parking in the mall.
standard wages.
• The mall has about 117-event day calendar for a year
covering major events and other smaller events, such Indirect employment: 62 It is estimated that the
as ‘Shopping Carnival’, in which additional benefits mall provides indirect job opportunities to about
are passed onto customers.62 1,000–1,500 workers, 1.5 times the number of direct
jobs created by tenants. These indirect jobs are
• The mall uses software solution to monitor energy
in areas, such as manufacturing, logistics, vendor
consumption in real time and control losses. The
services, the supply chain industry.
mall-generated solar energy is also tracked through
the software in real time.
Other implications: 62 After the arrival of mall and other
• The mall also conducts CSR activities, such as RUJDQLVHGUHWDLORXWOHWVLQWKH1HOORUHGLVWULFWDVLJQLȴFDQW
events for awareness of Breast Cancer, Girl Child ERRVWLQHFRQRPLFDFWLYLW\ZDVREVHUYHGDQGVLJQLȴFDQW
Acceptance, Notebook Distribution, Blood Donation investments were observed in the development of the
Campaigns, Save Water Campaigns, Medical Camps, surrounding area within a radius of 80 km. The residential
and many others.62 and commercial spaces also saw a value growth, up to three
times the normal price. This growth in the local economy
Direct employment: 62 The construction phase of the was due to the mall attracting visitors from nearby districts,
mall created jobs for more than 350 construction workers, leading to increased business for local shops and stalls and
and 20–30 construction workers remain employed daily improving the overall economy of the area.
for ongoing renovations. For its daily operations, the

4. DB City Mall Bhopal

DB City Mall at Bhopal, Madhya Pradesh, is one of the largest Shopping Malls in Central India. The Mall got operationalized
in 2010, the Mall is developed by Bhaskar Group, with operations and maintenance by DB Malls Private Limited. The Mall
along with other commercial facilities is spread across an area of about 1.4 million square feet, with an area of 6 lakh square
IHHWIRUWKHVKRSSLQJFHQWUHLWKDVDOX[XU\VWDUKRWHOȊ&RXUW\DUG%\0DUULRWȋKDYLQJNH\VDQGFRUSRUDWHRɝFHVVSUHDG
over an area of 60,000 sqft area. There are 180+ National and International Brand outlets in the shopping centre.

Key project details49

Gross Leasable Area 6 lakh square feet

6 levels (LG +G + 4)
1XPEHURIȵRRUV

Number of brands 180+

Project cost ~INR 2,500 crore

Employees ~5,000 direct

36
 Recognising malls and shopping centres as a new-age industry

Now in its twelfth year of operations, the mall has become one of the prime shopping destinations in Bhopal. On an average, the mall
gets 10 lakh footfalls per day from in and around Bhopal.

Mall facilities:7KHPDOOR΍HUVPRUHWKDQWRSEUDQGRXWOHWVRXWRIZKLFKDUHLQWHUQDWLRQDOEUDQGV

'L΍HUHQWLDWHGIHDWXUHVRIWKHPDOO67 WKHbFRQVWUXFWLRQSKDVH7KHPDOOSURYLGHVDERXW
direct jobs, of which 4,500 are jobs created by the tenants
• The Mall houses a Multiplex, six Restaurants, Five
and 500 from the mall management.
Resto-Bars, 30,000 sq. ft. Food Court, and a 15,000 sq.
ft. Family Entertainment Centre.
Indirect employment: 68 For DB City Mall’s operations,
• The mall also has 60,000 square feet of space for indirect jobs of ~5,000, i.e., as many as the direct jobs are
corporate offices. JHQHUDWHGbDFURVVPDQXIDFWXULQJORJLVWLFVYDULRXVYHQGRUV
and supply chain industries.
• The mall organises about 12 big Indian festival
events, such as Diwali, Navratri, Independence
Other implications: 68 With the establishment of the
Day, Republic Day, and various other small weekly
mall, there have been noticeable improvements in the
events.68
infrastructure and economy in a radius of 3–4 kilometre’s
• There is a seating arena for ~600 people around the around the mall. Both residential and commercial spaces
food court for people to spend leisure time.68 have seen phenomenal appreciation approximately three
times in value and rent. The mall attracts visitors from all
• The mall also allows omnichannel format space for
over Madhya Pradesh including Bhopal, its suburbs and
the retailers and food aggregators, such asSwiggy
QHDUE\GLVWULFWV7KLVKDVEHQHȴWWHGORFDOEXVLQHVVHVE\
and Zomato.68
providing more customers and boosting their sales and
livelihoods, thus uplifting the overall economy of the area
Direct employment: 68 The mall has generated more
than 500 jobs per day for a period of three years during

37
Recognising malls and shopping centres as a new-age industry

38
 Recognising malls and shopping centres as a new-age industry

Transforming destinations: Global

malls and the synergy of stakeholders
in elevating tourism
Highlighting the fruitful outcomes of cooperation between mall operators and government entities, this chapter will delve
into captivating case studies of two nations that have emerged as renowned shopping havens worldwide69.

1. Dubai Mall
The Dubai Mall in Downtown, Dubai, UAE is one of the million square feet for stores, anchor departments, food,
world’s biggest shopping destination. The mall was opened and beverage outlets, etc., and rest for other centres of
in November 2008, setting a benchmark in retail history. attraction, such as a 5-star luxury hotel ‘The Address Dubai
It was built by the EMAAR group (in which 24 percent Mall’, ice skating rink, underwater zoo, aquarium. There are
stake is of the UAE’s government) and is spread across an about 1,200 national and international brand outlets in the
area of about 12 million square feet, with an area of 5.9 shopping centre.70

Key project details70

Gross Leasable Area

3.77 million
square ft.

4 levels (G+3)
1XPEHURIȵRRUV

Number of brands
1,200

Project cost US$5 billion

Employees ~10,000

Parking 14000 car parking

39
Recognising malls and shopping centres as a new-age industry

ΖQLWVȴIWHHQWK\HDURIRSHUDWLRQVWKHPDOOKDVEHFRPHPXFKPRUHWKDQDVKRSSLQJGHVWLQDWLRQLQ'XEDL2QDQDYHUDJHWKHPDOOJHWV
80 million footfalls per year of which more than 90 percent are tourists and the rest are locals.71

Mall facilities
7KHPDOOKDVPRUHWKDQWRSEUDQGVXQGHUDVLQJOHURRIDQGR΍HUVPDQ\RSWLRQVIRUGLQHRXWHQWHUWDLQPHQWDQGDPXVHPHQW
The mall houses two anchor department stores and more than 200 food and beverage outlets.72

'L΍HUHQWLDWHGIHDWXUHVRIWKH'XEDL0DOO73 Impact of the Dubai Mall74

• Mall in houses more than 70 signature stores • Over the past 10–12 years the mall has created over
dedicated to Fashion Avenue, covering an area of 10,000 jobs across various sectors within and outside
4,40,000 VTXDUHIHHWb the mall, starting from core mall management jobs
to tenant salespersons, housekeeping, security
• Visitors can get an up-close look at Dubai Dino,
officials at all levels, and many more.75
a 155-million-year-old dinosaur skeleton that is
24.4 meters long and 7.6 meters high from the late • The mall has been a part of a social mix of gatherings
Jurassic period. for about 80 million visitors every year.

• The Mall also has one of the largest aquariums in the • The Dubai Mall has played a key defining role in
world ‘The Dubai Aquarium’, which showcases one positioning Dubai as a global fashion capital and a
of the most diverse collections of marine animals pioneer of leisure and entertainment zones.
worldwide.
• The economic impact of the Dubai Mall on the UAE’s
• An Underwater Zoo is located just above the economy has been wide-ranging. It is not only
aquarium and provides an interactive approach to transforming just the retail sector but also creating
educating children and visitors on the ecology and new referral points in leisure, entertainment, and
sustainability of marine life. hospitality.

• The Dubai Mall also features the Olympic-size • The mall has redefined the shopping and leisure
Dubai Ice Rink that can host international events, experience for visitors, introducing innovative
competition as well as other standard events. On the concepts, hosting celebrity events and shows,
second level of the Dubai Mall, spread over 1,50,000 and hence serving as the destination of choice for
square feet is the ‘Reel Cinemas’ with 22 screens that families to come together and celebrate life.
can seat 2,800 people.

Government’s role in the Dubai Mall • The local government authorities provide special
services to resolve traffic congestion during festivals,
• The Dubai Mall comes under the ambitious project
such as Eid celebrations by separating entry and exit
of the Dubai Government called the Downtown
points at Burj Khalifa and Dubai Mall area.
Dubai. This project includes other mega projects,
VXFKDV3DOP-XPHLUDKΖVODQGV'XEDL0DULQDb%XUM • During the festive season the local administration
.KDOLID'XEDL0DOOb'XEDL:DWHUIURQWb%XVLQHVV works on increasing the operational efficiency of
%D\b'XEDLODQG-XPHLUDK9LOODJHDQGPDQ\PRUH the metro station by installing additional gates and
modified passages to ease passenger flow and avoid
• The ambitious plan for the city’s urbanisation by the
congestion.77
Dubai Government started more than two decades
ago, where proper planning and zoning of the various • Special service roads are given for the taxis and
commercial projects were done beforehand. other vehicle parking movements, thus reducing the
congestion on the main roads.
• To link Dubai Metro’s Burj Khalifa Station and the
Dubai Mall, an elevated long pedestrian link was • The regional Transport Authority of Dubai increases
constructed by Downtown Dubai Development that the frequency of the metro feeder bus during peak
can carry about 5,760 people per hour.76 hours, provides more bus pick-up and drop-off

40
 Recognising malls and shopping centres as a new-age industry

points, increases the number of buses to raise the entitled to claim back any VAT on shopping in Dubai.78
passenger capacity by 60 percent per bus, and re-
• About seven VAT refund kiosks have been installed
aligns with the schedules of the metro trains and
in Dubai Mall, so the visitors to the mall can claim
feeder bus services.77
back any tax incurred on their purchases and get the
• During festive peak hours there is also an cashback there only.78
arrangement of alternative parking areas in case all
• Dubai Shopping Festival is an annual month-long
parking areas in The Dubai Mall and Burj Khalifa area
event put together by the Dubai Festivals & Retail
are full.
Establishment (DFRE), which is a part of Dubai’s
• Since the UAE government had decided to diversify department of tourism.
from a trade-based oil-reliant economy to a service-
and tourism-oriented one, visitors to Dubai are

2. Siam Paragon Mall, Bangkok

The Siam Paragon Mall, Bangkok, Thailand is one of the biggest shopping destinations in Thailand as well as in Southeast
Asia. The mall was opened in December 2005 and built by the ‘Siam Piwat’ group.79 The mall is spread across an area of
about 5 lakh square metres, with an area of 3 lakh square metres for stores, anchor departments, food, and beverage
outlets, etc. There are more than 270 leading local and international stores in the mall.79

Key project details49

Gross Leasable Area

3 lakh square
metres

1XPEHURIȵRRUV 8 levels (G+7)

Number of brands 270+

Project cost US$450 million

Location Bangkok,
Thailand

In its eighteenth year of operation, the mall gets on an average 90 million footfalls per year of which the maximum are tourists and the
rest are locals of Bangkok city.80

41
Recognising malls and shopping centres as a new-age industry

Mall facilities
7KHPDOOKDVPRUHWKDQWRSEUDQGVXQGHUDVLQJOHURRIDQGR΍HUVPDQ\RSWLRQVIRUGLQHRXWHQWHUWDLQPHQWDQGDPXVHPHQW81

'L΍HUHQWLDWHGIHDWXUHVRIWKH6LDP3DUDJRQ0DOO82 entertainment zones, as well as a South Asian

fashion hub.
• The mall has Southeast Asia’s largest aquarium, a
16-screen cineplex, and a comprehensive selection of • The shopping and leisure experience for visitors has
world cuisine. been transformed by the mall, offering attractions
such as the Sea Life Bangkok Ocean World aquarium,
• The mall is in front of the Siam BTS Skytrain
an exhibition hall, the Thai Art Gallery, and an
station–the interchange of the 2 BTS lines–which is
opera concert hall.
considered to be the centre of Bangkok.

• The entire mall has a glass and steel atrium and a Government’s role in the Siam Paragon Mall
cluster of designs with elaborate window displays
• The Thai Government has included members from
in the prime positions around the main escalators,
big shopping centres to be part of the tourism
which serves as an attention seeker for the visitors.
promotion team. Recently, a team from Siam
• Each floor is dedicated to a particular category of Paragon joined the Thai governance visiting Saudi
retail stores, such as the main floor for ‘the luxury’, Arabia to promote tourism in Thailand.83b
the first floor for ‘fashion venue’, the second and
• BTS Skytrain, one of the convenient transportation
third floors for ‘lifestyle and leisure’, and the fourth
in Bangkok has a cross-platform interchange station
floor for ‘I.T World and restaurants’.82
called Siam station next to the mall.b
• To welcome international guests to experience
• The local authorities have built sky bridges and
WKHUHPDUNDEOH6LDP3DUDJRQYLVLWRUVFDQbJUDE
elevated walkways linking the station to the
a ‘tourist card’ that entitles them to up to a 30
centerpoint of Siam Square shopping centres
SHUFHQWbGLVFRXQWLQWKHVKRSSLQJFRPSOH[IURP
consisting of Siam Paragon, Siam Square One, and
participating brands.
Siam Center.

Impact of the Siam Paragon Mall • To promote tourism and give the best retail
experience to them, there is a 5 percent discount
• Siam Paragon is at the forefront when it comes to
on most purchases, and one can apply for a tourist
lifestyle destinations to visit in the Thai capital,
discount card at the information desk on the ground
Bangkok and has played a key defining role in
level.84
positioning Bangkok as a pioneer of leisure and

1RWRQO\JOREDOPDOOVEXWDOVRPDOOVLQΖQGLDDUHEHFRPLQJSRSXODUWRXULVWGHVWLQDWLRQV:LWKWKHLQȵX[RIODNKVRI
international tourists, every year in India, mall developers have now started developing shopping malls in and around
YDULRXVΖQGLDQWRXULVWGHVWLQDWLRQV VSHFLȴFDOO\GHVLJQHGIRUERWKGRPHVWLFDQGLQWHUQDWLRQDOWRXULVWVWRFDWHUWRWKHLU
vacation and shopping needs). Plans for prestigious shopping malls are being developed in Tier-2 and 3- cities, such as Agra,
-RGKSXU&KDQGLJDUK8GDLSXU*RD9DUDQDVL6LOLJXULDQGRWKHUSRSXODUWRXULVWGHVWLQDWLRQVLQΖQGLD7KHVHFLWLHVZKLFKR΍HU
scenic beauty will now also provide opportunities for tourists to shop while on vacation. For example:

42
 Recognising malls and shopping centres as a new-age industry

The City Centre Mall developed by Ambuja Realty

Developers in Siliguri, serves as an attractive place
for North Bengal (Darjeeling, Jalpaiguri, Alipurduar)
and Sikkim tourists.85 The development of the mall
attracts tourists and city’s urban infrastructure
has got an uplift. This increases the economic
productivity of the city of Siliguri.86

Nexus Celebration is Udaipur’s holistic shopping

experience with more than 90 national and
international brands.87 It is a part of the Nexus Malls
portfolio. Built in an ethnic architectural style, the
PDOOLVWKHȴUVWLFRQLFKHULWDJHPDOOLQΖQGLDZLWK
a unique blend of ethnicity on the outside with
modern conveniences within.

The Elante Mall, Chandigarh of Nexus Select Trust is

home to more than 250 national and international
brands. The mall is a major attraction for the nearby
areas, such as Jalandhar, Mohali, Patiala.89 As a
result, the mall not only improves the lives of people
RI&KDQGLJDUKEXWDOVREHQHȴWVWKHVXUURXQGLQJ
cities and towns.90

43
Recognising malls and shopping centres as a new-age industry

44
 Recognising malls and shopping centres as a new-age industry

Navigating obstacles: Key challenges

for shopping centre industry in India
and initiatives for overcoming them
As discussed throughout the document, malls are not ΖQWKHJRYHUQPHQWȇVH΍RUWVWREXLOG6PDUW&LWLHV
simply buildings or structures that can be categorised as which consider the trend of urbanisation as the economy
generic real estate assets. They are unique in terms of their shifts towards services, malls play an important role as an
design, functionality, and purpose. Malls are designed to essential component of urban infrastructure.
serve as a hub for commercial and social activity, providing
a space for a variety of businesses to operate and interact Therefore, malls can be viewed as a distinct category of
with customers. They serve as entertainment destinations, FRPPHUFLDOSURSHUW\ZKLFKUHTXLUHVVSHFLȴFH[SHUWLVHDQG
R΍HUDZLGHUDQJHRIOHLVXUHDFWLYLWLHVVXFKDVFLQHPDIRRG knowledge to manage and operate successfully. Recognising
courts, other forms of entertainment. They also create job malls as separate entities from other forms of real estate
opportunities and boost the local economy by attracting will allow policymakers and investors to develop strategies
visitors and stimulating development in surrounding areas. that address their unique needs and challenges.

Figure 22: Key challenges faced by the malls and shopping centres industry91

Taxation extends to the entire mall premises rather than being limited
Relatively higher to the retail space alone
Taxation property tax rates
v/s other commercial Outdoor advertisements and
establishments Input Tax Credit unavailability for
signage of tenants are subject to
the construction of malls
taxation

Industry /DFNRILQGXVWU\VWDWXVOHDGVWRKLJKHUWDUL΍FKDUJHVIRUHVVHQWLDOUHVRXUFHVOLNHHOHFWULFLW\ZDWHUDQG
status gas lines (~40% higher v/s other industries)

Availability Lack of industry status hinders Higher interest rates v/s other Lengthy TDS reversal blocks
of credit credit access industries working capital

Approval
Mall operationalization delayed by lengthy licensing & approval process
processes

Support
/LPLWHGVXSSRUWIRUWUDɝFFRQWUROURDGGHYHORSPHQWSRZHUVXSSO\
from local
bodies and public transport connectivity

45
Recognising malls and shopping centres as a new-age industry

To succeed in addressing the challenges that malls opportunities will require new ways of working between
and shopping centres face, several changes will need mall developers, mall operators, and government
to occur simultaneously. Turning challenges into stakeholders.

Figure 23: Unlocking the growth potential of the shopping center industry through strategic initiatives

• Reduction in charges on various resources, such as electricity and water supply

1 • $YDLODELOLW\RIFUHGLWIDFLOLWLHVIURPYDULRXVȴQDQFLDOLQVWLWXWLRQVDWLQGXVWU\UDWHV
• Standardisation of taxes across the country
According Industry
• Opportunity to represent as a singular body in front of the government
status resulting in:
• Ability to plan country-level events to attract consumers and investors

2 • Single window clearance that would reduce both mall construction time and
required investment
Streamlined regulatory
• Easing of the relatively stricter setback norms and ground coverage regulations
compliances and
compared to other commercial real estates
licensing requirements
• Ease of acquiring F&B licenses
via:

• Allocation of designated spaces to shopping centres in master plans

3 •
•
Incorporation of mall developments into the local municipality’s development plan
Reduction in surcharges and wheeling charges to encourage investment
Inclusion in urban in renewable energy
planning via: • Infrastructural support - Allowing developers to invest in public infrastructure and
subsidizing the same for developers via rebates in property tax etc.

46
 Recognising malls and shopping centres as a new-age industry

End note
Given the crucial role that the malls & shopping • Malls enable collaboration of global brands
centres play, as analysed throughout this document, with Indian manufacturers, which boosts
it is important to address the challenges they face. A local manufacturing in industries, creates
potential solution to these challenges is recognising job opportunities, and contributes to
malls & shopping centres in India as an industry, similar the country’s economy
to other core or manufacturing industries. Following key
points that support this idea include: Recognition of malls and shopping centres as an
industry would grant access to more support and
• Malls generate employment equivalent to many
EHQHȴWVIURPWKHJRYHUQPHQWVXFKDVORZHULQWHUHVW
other recognised industries
rates, representation in decision making, and reduced
• Compared with a few industries, malls contribute WDUL΍VIRUHVVHQWLDOUHVRXUFHV7KLVZRXOGDGGUHVV
higher taxes and provide greater employment the challenges faced and support their growth and
opportunities development, which would contribute to the national
economy and promote socio-cultural development.
• Malls serve as essential assets for the nation,
promoting socio-cultural development and
improving the infrastructure

47
Recognising malls and shopping centres as a new-age industry

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49
Recognising malls and shopping centres as a new-age industry

Connect with us
Deloitte

Anand Ramanathan Rajat Wahi Praveen Govindu

Partner, Consumer Industry Partner, Consulting, Partner, Consulting,
Leader-Consulting, Deloitte India Deloitte India
Deloitte India

SCAI

Anjeev Kumar Srivastava Sunil Pai

COO, SCAI Secretary, SCAI
coo@scai.in sunil.p@scai.in

Contributors

Abhilasha Joshi

Harsheen Anand

Acknowledgements

Sanchi Gabran

Riyanka Varavadekar

50
Recognising malls and shopping centres as a new-age industry

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