Retail Space Shrinks In 2016 Due To Mall Closures Says Report

Mumbai: Limited supply coupled with closure of certain malls resulted in a negative supply in retail space for the first time ever in 2016, a recent survey said. According to property consultant Jones Lang LaSalle (JLL), closure and change in usage of failed malls, limited new supply led to net negative supply of 3 lakh sqft in 2016. "For the first time in India's mall history, a net negative supply of retail space was observed in 2...