{"id":5275,"date":"2012-11-27T12:41:44","date_gmt":"2012-11-27T07:11:44","guid":{"rendered":"http:\/\/news.entecity.com\/?p=5275"},"modified":"2012-11-27T13:25:02","modified_gmt":"2012-11-27T07:55:02","slug":"50-malls-coming-to-kerala-at-rs-6k-crore-investment","status":"publish","type":"post","link":"https:\/\/entecity.com\/news\/50-malls-coming-to-kerala-at-rs-6k-crore-investment\/","title":{"rendered":"50 Malls coming to Kerala at Rs 6K crore investment"},"content":{"rendered":"<p>The major cities in Kerala are going to witness a revolution in shopping with 50 malls getting ready to come across <a title=\"AC Low floor to connect Kerala\" href=\"http:\/\/news.entecity.com\/ac-low-floor-to-connect-kerala\/\" target=\"_blank\">Kerala<\/a> within next 3 years at an investment of Rs 6,000 crore. Malls with 1.5 Crore sq ft of commercial space will come up in <a href=\"http:\/\/entecity.com\" target=\"_blank\">Trivandrum<\/a>, Kochi, Kozhikode, Palakkad and Kannur with a rate of Rs 4,000\/ Sq ft and it will create 5 lakh new <a href=\"http:\/\/jobs.entecity.com\" target=\"_blank\">job opportunities in Kerala<\/a>.<\/p>\n<p>Major players leading this retail revolution will be <strong>Lulu<\/strong>, <strong>Malabar Group<\/strong>, <strong>RP Group<\/strong>, <strong>Hilite<\/strong>, <strong>Unitech<\/strong>, <strong>Prestige<\/strong>, <strong>Gokulam<\/strong> and <strong>Sobha<\/strong>. There are already a dozen malls up and running in <a href=\"http:\/\/entecity.com\" target=\"_blank\">Kochi<\/a>, Kozhikode and Trivandrum. Apart from this, 15 malls will be opened by the year 2013 which bring about 50 Lakh sq ft of commercial space. Many of these payers are eyeing on the ongoing debate on FDI retail in Parliament.<\/p>\n<p>\u201cMalls have great potential in the state as a majority of Keralites have already experienced this overseas. The state has one of the highest per capita income in the country. More Kerala-based business groups are entering this sector as part of their extended diversification. This will lead to the entry of brands like <a href=\"http:\/\/www.shoppersstop.com\/\" target=\"_blank\">Shoppers Stop<\/a> and Lifestyle to the state,\u201d said Susil S Dungarwal, founder director, Beyond Square feet Advisory Pvt Ltd, a Mumbai-based mall advisory company.<\/p>\n<p>Over the last 3 years, shopping malls recorded a growth rate of 18 to 20% and many developers are now focusing on tier-1 and tier-2 cities to open malls.\u00a0While pointing out the immense opportunity in mall business, M A Mohammed, Managing Director, of Oberon Group said \u201cWhen <a href=\"http:\/\/www.oberonmall.com\/\" target=\"_blank\">Oberon mall<\/a> was set up in 2008, it was an entirely different ground reality and we found it difficult to attract retailers. It took two years to change the mindset of retail majors. Now Kerala is definitely on their radar,\u201d.<\/p>\n<p>In total there are more than 350 malls in the country, with majority of them based in metros like Mumbai and Delhi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The major cities in Kerala are going to witness a revolution in shopping with 50 malls getting ready to come across Kerala within next 3 years at an investment of Rs 6,000 crore. Malls with 1.5 Crore sq ft of commercial space will come up in Trivandrum, Kochi, Kozhikode, Palakkad and Kannur with a rate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[464,35,452],"class_list":["post-5275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ernakulam","tag-kerala","tag-trivandrum"],"_links":{"self":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts\/5275"}],"collection":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/comments?post=5275"}],"version-history":[{"count":0,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts\/5275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/media\/5276"}],"wp:attachment":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/media?parent=5275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/categories?post=5275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/tags?post=5275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}