A fourth of Pune’s shopping malls remain empty though that’s an improvement over the 27% vacancy levels seen in the last two quarters. With supply at a standstill, retailers are once again signing up for space. However, the relief might be temporary since fresh supply is on its way; Westend Mall with 3,50,000 sq.ft. space in Aundh and Spot 18 with 1,50,000 in the Pimpri-Chinchwad region—are slated to open soon.
In the meanwhile, the exits continue for MNCs like Marks & Spencer, French retail chain Auchan and others. Mariplex, a 90,000 sq.ft. shopping centre in Kalyani Nagar is to be converted into a food and beverage area while the one lakh sq ft Jewel Square, in Koregaon Park will now house offices. Others have been less fortunate; Koregaon Park Plaza, is said to be on the block.