1. Indian real estate news

What’s next for shopping malls in India amid Covid

This post is taken from a Quartz India story (source).

In April and May 2021 when the second wave of Covid-19 was at its peak in India, the shopping centres and malls incurred losses of around Rs 3,000 crore ($451 million). It has impacted their staffing and budgeting, their entire supply chain for finances, and their strategy for the current and next financial year.

What next for the malls in India

Looking at these challenges the mall owners should adapt and rework on their business models. For example if entertainment zones and restaurants are likely to see poor footfall in the future as well because of social distancing norms, the project leaders should cut down these investments and use these on what is most likely to work—co-working or co-sharing spaces for individuals, corporate, and even for the communities.

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