ghost shopping malls: Number of ghost malls rising in India, Delhi NCR tops the list, followed by Mumbai, Bengaluru: Report
Knight Frank India's recent report reveals a notable rise in ghost shopping malls, with 64 such malls identified in 2023 compared to 57 in 2022. These malls, characterized by a vacancy rate exceeding 40%, saw a 58% increase in area, reaching 13.3 million square feet. The report highlights the challenges faced by Grade C assets and ghost shopping centers, emphasizing the need for landlords to rejuvenate or divest such properties.
Source: indiatimes.com