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Searched Tag: ghost malls

The number of ghost shopping malls those with vacancy rates exceeding 40 per cent – surged to 64 in 2023 from 57 in 2022 across eight major cities in India, according to a report released by real estate consultant Knight Frank.

Ghost malls haunt Indian retail: 64 vacant centers signal shift in consumer trends

May 7, 2024, 03:15 PM - 2 min read

The report identified 64 shopping malls encompassing approximately 13.3 million square feet of gross leasable area as 'Ghost Shopping Centers' in 2023, marking a 58 per cent increase from the previous year's 8.4 million square feet.

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