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Mumbai: Realty giants stall mall projects

Posted on 21 November 2011

Big mall openings may pause with new projects drying up in the next one year after cash-strapped real estate developers rolled back investments into glitzy shopping complexes, leaving some retailers worried about their expansion plans.
“There won’t be many big malls, almost nothing in our reckoning, hitting the market beyond late 2012,” says Sameer Sain, Founder & CEO, Everstone Capital, which owns about 14 malls through real estate funds Kshitij and Horizon. This, ironically, might coincide with India’s plans to open up multi-brand retail to foreign direct investment (FDI) and allow single-brand retail operations to be 100% foreign owned………………………………………..Full Article: Source


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