Hyd has highest Grade-A mall stock in India

Hyderabad: Hyderabad recorded the highest concentration of Grade A mall stock across top eight cities in India, as per international property consultant Knight Frank India's latest report 'Think India, Think Retail 2022 – Reinventing Indian Shopping Malls'.

According to the report, the city has 7.2 million sft of gross leasable area (GLA) as of H1 2022 comprising a share of 7.7 per cent of the country's total mall stock. Out of the total stock in the city, a maximum share of 52 per cent comprised of the Grade A mall stock at 3.9 million sft. The share of Grade B and C malls stood at 21 per cent (1.57 million sft) and 27 per cent (2.02 million sft) respectively.

The GLA across 271 operational malls in top eight cities of the country stood at 92.9 million sft as of H1 2022. A significant growth from 77.4 million sft of GLA registered until December 2019 across 255 malls. Grade A malls contributed 39 per cent of the total stock with 36 million sft. High occupancy, strong tenant mix, good positioning and active mall management being the key driving factors.

During the same period, Grade B malls, with decent occupancy and tenant mix, contributed 31 per cent with 29.1 million sft, while Grade C malls contributed the lowest 30 per cent (nearly 27.8 million sft). High vacancy rates, poor tenant mix, and relatively poor mall management impacted the contribution by Grade C malls.

Of the total number of 271 operational malls in India, Grade A comprised of 52 malls accounting to 19 per cent. Grade B and C comprised of 35 per cent (94 malls) and 46 per cent (125 malls) respectively.