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Desperate mall developers offer rosy deals to retail tenants
Posted On: 10-07-2012 00:00:00 12

The availability of excess retail space as a result of the construction boom by mall developers has turned advantageous for the retailers, with the mall owners striving to lure the retailer with lucrative offerings.

Some of the benefits on the plate for the retailers are slashing of the steep rents by 30%, waiver of the minimum guarantee, even an offering of a rental free period of three months, and more flexibility on the lock-in, deposit and notice periods.

In the prevailing economic scenario, the retail industry is not expecting double digit growth, and is resorting to various means to cut cost and improve profitability from stores. This has lead to scaling down store sizes and opting for cheaper destinations, even shutting down of non-profitable stores.

Market watchers do not see any shift in the situation for the next few months, possibly even a year.

 
 
 

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