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Retail Entertainment Zones by 2011 ?
Posted On: 14-07-2009 10:17:00 AM

To put India on the map for shopping tourism, the Retailers Association of India is advocating the creation of Retail and entertainment zones (REZs). The RAI, is in talks with a couple of state governments on creation of REZs which are being seen as integrated hubs similar to special economic zones and IT Parks where hospitality, retail and entertainment players will have a presence. The parks, which typically need over 100 acres, will have the capacity to generate an annual business of around Rs 2,000 crore. The concept is to develop an area as an entertainment destination to stay, dine, shop and have fun. RAI has asked the state governments to provide land and tax exemptions usually doled out to SEZs and IT Parks. The project could come up under a public-private partnership and RAI will act as a facilitator bringing in real estate players, developers and retailers.

 
 
 

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