CHENNAI: ITCOT Consultancy and Services will hold a seminar on November 28 here on "Mega Malls." It will cover aspects relating to their market potential, emerging opportunities, project creation, financing, and facilities to be provided.

Mega malls offer the experience of shopping, dining, cinema, leisure and entertainment, games, hospitality, party and exhibition, all under a roof for the urban consumer. Several developers see the trend as the next money-spinners, as compared to residential and office spaces.

The seminar will be useful to prospective entrepreneurs such as real estate developers and promoters, retail chain companies, hospitality chains, financial institutions, local bodies, the State Government, and multiplex operators.

Admission will be on first-cum-first-serve basis. For details on registration for the seminar contact V. Sridharan, principal vice-president, ITCOT, phone: (direct) 28292557, mobile: 98409 28290 (after office hours): 24839317.

Growing demand

In India, a report recently compiled by ITCOT on the business of mega malls says, the trend is towards organised retailing and the sector is expected to grow at an annual average rate of 25-30 percent. This will mean more demand for retail space in high-street retail locations, shopping malls and mega malls, which are short in supply. With the current growth trend, organised retailing in India has the potential to create 25,000 new retail outlets by 2010. By 2007, nearly 750-lakh sq.ft of mall space will be available in India. Chennai is in the list of cities that will capitalise on this need.

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