Ghost shopping centres, so called because more than 40 per cent of their retail space is vacant, increased 59 per cent to 13.3 million square feet (msf) in 2023 compared to the year before, said a report on Tuesday.
The "Think India Think Retail 2024" report, released by real estate consultancy Knight Frank, studied 340 shopping centres and 58 high streets in 29 Indian cities. There were 64 ghost shopping centres in 2023, up from 57 in 2022. The increase led to a value loss of ₹6,700 crore.
This story is from the May 08, 2024 edition of Business Standard.
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This story is from the May 08, 2024 edition of Business Standard.
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