Even as rentals for malls, one of the major cost factors for retail companies, seeing a major shift from the property-selling model to a leasing- and revenue-sharing model, mall owners are roping in international consultancy firms such as Jones Lang Lasalle Meghraj (JLLM), WT Retail India and Property Zone to manage their retail assets. These firms provide mall property management services, such as retail planning, managing lease, common area management, mall promotional activities and marketing, leasing contract and legal advices.
Malls, such as Anpa in Chennai, Celebration Mall in Amritsar, Mahagun Metro in NCR Delhi, have hired JLLM, while Garuda in Bangalore and City Axis have tied up with WT Retail India, a joint venture between Australia-based Pelorus Property and Bangalore-based asset management firm Assetz Property Services. Others like Mumbai-based Inorbit, Nirmal Lifestyle and Phoenix Marketcity have hired high-profile mall management advisors and formed a separate team for cost-effective management.
Phoenix, for example, has floated a separate vertical, MarketCity Resource, with a 25-member leasing team headed by ex-Wal-Mart Tony Ward. Inorbit has hired a senior mall manager Savak Srivastva, who has worked with several property management firms in the Gulf and in the west.
More : economictimes.indiatimes.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
Are malls finally losing sheen?
Big brands who were anxious to pick up prime mall space till last year now have aggressive expansion plans, but in high street locations. Big retail brands are deserting malls for the high street. Retailers say most mall projects get delayed and with the cash crunch faced by mall developers, they are looking for other options to avoid expansion delays of their own. Subranshu Pani, Director – Retail, Jones Lang LaSalle Meghraj, said, Developments take 24-36 months to happen. Three years is a long time for a brand. Some of them get access to high streets where they can move
Rooms meshed with retail racks
Rooms meshed with retail racks Catch a late-night movie after a hectic day of biz parleys and just hop across to your hotel room after the show. Pick up that polo neck or sip your favourite brew in a chic cafe. Or simply luxuriate in the knife-edge swimming pool perched high on the fourth level and watch the flights take off… Rooms get meshed with retail racks in Calcuttas first mall-hotel. In a years time, a 130-room star hotel will grow out of City Centre, New Town coming up in Rajarhat, three km from the airport — a sequel to the Charles
Owners Hse
Owners Hse is a location in Mumbai in India. If you have seen Owners Hse, then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Owners Hse is important to us. Please provide you comment / review / article on Owners Hse in Mumbai below.
Birla Retail to shut unviable stores, even as it expands chain
To counter the slowdown in the retail industry,Aditya Birla Retail Ltd is renegotiating rentals and shutting down unviable stores, chief executive officer Thomas Varghese said on Monday. The Mumbai-based chain, part of the Aditya Birla group, is also focusing on private labels and plans to open deep-discount stores, he added. Taking advantage of falling rentals, the chain is also looking to expand from 660 to 2,100 supermarkets—small format store that range between 1,500 sq. ft and 3,500 sq. ft—by 2013. It is also planing to have 12 new hypermarkets—stores of more than 50,000 sq. ft—by March 2010, taking the total number
South Mumbai to get a Pantaloon Central
KOLKATA: It doesnt get more central than this, perhaps. Pantaloon Retail is learnt to have zeroed in on the Haji Ali area in south Mumbai to set up its first Central Mall in the city. And the grapevine has it that the location would be none other than Crossroads, the countrys first mall and a landmark in Mumbai. A few months back, there was a strong rumour that the Ashoke Piramal group had sold off Crossroads, the countrys first mall and a landmark in Mumbai, to Kshitij Real Estate Fund — owned by Pantaloon and a foreign private equity fund.