Shortfall likely in retail real estate space by 2012

The country may witness a shortfall in retail real estate space in 2011-12 though 40 million sq. ft. is expected to come up between 2010 and 2012.

Around 25 per cent of the stock was likely to get absorbed in 2010. In 2009, about nine million sq. ft. was consumed by the segment, according to Anuj Puri, Chairman and Country Head, Jones Lang LaSalle Meghraj.

The demand in the North and East of the country continued to be robust even then, and the impact was seen in IT-dominated areas such as the South. Pune was among the weakest on spends during the downturn.
Greater cooperation between shopping centre developers and tenant retailers in design and management of shopping malls was needed.