Retail real estate sector has emerged as one of the most vibrant sectors in India in 2018. Apart from commercial office spaces, retail sector saw maximum growth in 2018 in cities like MMR, NCR, Bangalore and Kolkata. As per the research by ANAROCK, the Indian retail sector has attracted an investments of over Rs 5500 crore, between 2015 and 2018, and close to Rs 1300 crore in 2018 alone, which makes the year 2018 the best year for the sector.
Today, malls are not just about shopping or movie theatres, it has become more of an experience. Retail spaces are now build around the needs and interests of an increasingly diverse consumer market. Seeing Delhi/NCR as the most promising retail investment market, companies like IKEA, Samsung, Oppo, etc. are setting up there stores here.
Noida is an affordable city with good infrastructure. The infrastructure developments in the city has made Noida’s real estate market increasingly attractive. With operational malls like Wave Mall, Wave Silver Tower, DLF Mall of India, etc. Noida attracts a lot of consumers from Delhi and other adjoining areas.
With new trends like automation in retail experience, Augmented / Virtual reality, better consumer knowledge, etc. retail real estate is going through a phase of resurgence. Understanding that the traditional retail developments are soon to be passé, and the sector needs something more expressive and immersive, Wave has ventured into a new kind of retail concept with High Street Shopping Condominiums (HSSC). HSSC has the necessary innovation that the retail sector requires. It is a shopping arcade build to perfection with great attention to detail.
To further discuss future of Noida retail, a session on ‘The great debate: What next for the shoppers’ was held. The event was organised by Wave Group at its High Street Shopping Condominiums (HSSC), Wave City Center, Noida. It saw experts speaking on how retail sector is changing and how Noida is emerging as an ideal retail investment option. In the event, retail professionals as well as online and business development managers across the verticals, discussed what the future holds for this sector. It offered an unparalleled learning experience, along with creating new business avenues.
Speaking on the occasion, CJ Singh, Sr President, Wave City Center said, “Noida is the epicentre for retail. It is an ideal destination for retail investment as it is extremely well connected and has an impeccable infrastructure. Noida’s commercial space absorption has been over 3.5 million sq ft in the year 2018. With metro connectivity in every nook and corner of the city, Noida is the place to be. To further tap the potential of the city, Wave Group is coming up with its own High Street Shopping Condominiums (HSSC) at Wave City Center, Sector 32 Noida. It is not just any shopping arcade, it is an experience.”
In the event, Neeraj Singh, Director KPMG India, spread light on how a good location helps in greater returns in terms of footfalls, increased ROI and conversion. Noida is one such location.
The event saw companies like Yellow Tie Hospitality, Pind Balluchi, L Opéra, etc. as prospective investors looking for partnership opportunities. Experts from brands like Raymond, Delhi Heights, Imly, etc were on the panel to discuss how F&B is becoming the most integral part of retail real estate business, new kind of experiences like VR/AR that are been added to the future retail stores thereby increasing the footfalls, Noida as an ideal location in attracting investments because of developments happening in the city and a lot many other aspects of retail real estate.