59% increase in ghost shopping centers; low performing malls lock up value of ₹6700 crore Hindustan Times
There has been a 59% year-on-year increase in low performing shopping malls with approximately 13.3 million square feet of retail space categorized as 'ghost shopping centers', a report by Knight Frank India titled 'Think India Think Retail 2024: Shopping Centre and High Street Dynamics Across 29 Cities' has said. As a result of the rise in ghost shopping centers, Knight Frank estimated the loss of value to be at ₹6,700 crore or $798 million in 2023, it noted. The report covers 340 shopping centers and 58 high streets across 29 Indian cities, conducted through primary surveys
