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Retail boom slows down as malls delay completion
Posted On: 19-05-2008 08:10:18 AM

According to industry experts, there are almost 250 malls that are running late by at least two years. Among some of the latecomers are Eternity mall in Nagpur, Crown Interiorz in Faridabad, DLF’s Emporio in New Delhi and UB City - The Collection in Bangalore. The reasons for not meeting the deadline are plenty. Labor shortage, increasing cement and steel prices and poor project management are just a few. These delays are now becoming a serious concern for the retailers who have leased space in these malls. Crucial months of sale have been lost due to such delays and planning has become a nightmare. Retailers who have bought for the season on the basis of commitments made by malls now find themselves stuck with excess stocks.

 
 
 

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