In India, low vacancy levels and high rentals in tier-I cities now paving the way for retail expansion in tier II cities. Over the next five years, nearly 85 malls are expected to come up in India, and more than 30 new malls accounting for nearly 14 million sq ft area are expected to open just in the top eight cities by 2020, according to a research data shared by ANAROCK Retail. It adds that cities that have so far seen maximum malls include Gurgaon, Noida, Greater Noida and Delhi in NCR, Mumbai, Chennai, Bengaluru, and Pune. This prediction of overall retail space expansion in top eight cities across the country signals a fresh business opportunity for the signage companies whose activities include in-store branding, graphics and such tasks.
