An Insight to Retail Real Estate in Noida

NOIDA, (31/1/2019): Retail real estate sector has emerged as one of the most vibrant sectors in India in 2018. Apart from commercial office spaces, retail sector saw maximum growth in 2018 in cities like MMR, NCR, Bangalore & Kolkata. As per the research by ANAROCK, the Indian Retail Sector has attracted an investments of over Rs. 5500 Crore, between 2015 & 2018, and close to Rs. 1300 Crore in 2018 alone, which makes the year 2018 the best year for the sector.

India’s retail market is expected to increase by 60 per cent to reach US$ 1.1 trillion by 2020, as per Indian Brand Equity Foundation. Growing economy, increase in disposable income, lifestyle changes, increased digital connectivity, etc. are the factors leading to successful growth of the retail sector. The retail sector is evolving rapidly. Today, malls are not just about shopping or movie theatres, it has become more of an experience. Retail spaces are now build around the needs and interests of an increasingly diverse consumer market. Retail wonders in Delhi/NCR are already catering to these diverse consumer needs and are offering retails spaces, which are consumer friendly and relatable and relevant to the consumer needs. Seeing Delhi/NCR as the most promising retail investment market, companies like IKEA, Samsung, Oppo, etc. are setting up there stores here.

What makes Noida, the most desirable location for Retail Investment?

When we talk of Delhi/NCR, Noida would be the choice where people would invest & get high property appreciation. Noida is an affordable city with good infrastructure. The infrastructure developments in the city has made Noida’s real estate market increasingly attractive. The retail sector in Noida is growing at a fast pace. With operational malls like Wave Mall, Wave Silver Tower, DLF Mall of India, etc. Noida attracts a lot of consumers from Delhi & other adjoining areas. Now, with such retail experience, Noida has become the hot-spot for people from various cities. Not just weekends, but these malls see an encouraging footfalls on weekdays as well.

Speaking on Noida’s growth, Mr. CJ Singh, Sr. President, Wave City Center said, “Noida is the epicentre for retail. It is an ideal destination for retail investment as it is extremely well connected and has an impeccable infrastructure. Noida’s commercial space absorption has been over 3.5 million sq. ft. in the year 2018. With Metro connectivity to every nook and corner of the city, Noida is the place to be. To further tap the potential of the city, Wave Group is coming up with its own High Street Shopping Condominiums (HSSC) at Wave City Center, Sector 32 Noida. It is not just any shopping arcade, it is an experience.”

With new trends like automation in retail experience, Augmented / Virtual reality, better consumer knowledge, etc. Indian retail real estate is going through a phase of resurgence. Understanding, that the traditional retail developments are soon to be passé, and the sector needs something more expressive and immersive, Wave has ventured into a new kind of retail concept with High Street Shopping Condominiums (HSSC). HSSC has the necessary innovation that the retail sector requires. It is a shopping arcade build to perfection with great attention to detail.

Further, discussing the development of the retail sector in Noida, Wave Group had organised an event at its High Street Shopping Condominiums (HSSC), Wave City Center, Noida. The event saw experts speaking on how retail sector is changing and how Noida is emerging as an ideal retail investment option. In the event, retail professionals as well as online and business development managers across the verticals, discussed what the future holds for this sector. It offered an unparalleled learning experience, along with creating new business avenues.

In the event, Mr. Neeraj Singh, Director KPMG India, spread light on how a good location helps in greater returns in terms of footfalls, increased ROI & conversion. Noida is one such location. With great infrastructure developments and connectivity advantages, the city is a gold mine for retail sector investment. Here are few of its advantages:

• Noida is one of the largest planned industrial townships of Asia.
• The city houses the best retail options in Delhi/NCR.
• Noida boasts of unparalleled infrastructure. The city recently added the following developments to its credit:
  • Metro’s new Aqua line linking Noida, Greater Noida
  • Two new bridges that will ease connectivity between Noida and Delhi
  • A second bridge on the Yamuna River near Kalindi Kunj, to ease traffic on the existing four-lane bridge on the Okhla barrage, ensuring better connectivity from Noida to Delhi, Faridabad and Gurgaon.

The event saw companies like Yellow Tie Hospitality, Pind Balluchi, L’Opéra, etc. as prospective investors looking for partnership opportunities. Experts from brands like Raymond, Delhi Heights, L’Opéra, Imly, etc. where on the panel discussion, giving an insight on:

• How F&B is becoming the most integral part of retail real estate business.
• New kind of experiences, like VR/AR that are been added to the future retail stores, increasing the footfalls.
• Noida, as a location is attracting investments because of developments happening in the city.
• Changing consumer behaviour that is pushing the brands to build and offer better retail spaces.

Retail sector has seen immense changes in the last decade. From consumer behaviour to retail space developments. With changing expectations, consumer today, wants more immersive retail destination and now they can get the same in Noida. Noida’s retail real estate sector is set to see great heights in coming years.