Saturday, December 03, 2005

Malad-BPO & Mall heaven

Malad, a northwest suburb of Mumbai, is becoming the next hotspot for BPO’s and Malls after Gurgaon. The phenomenon of clumping BPO offices and Malls together is working really well; BPO workers are always short on time, get higher salaries than the average Indian and are extremely brand conscious, a winning combination from the Malls perspective.

Mindspace, a 170-acre complex in Malad being developed by K. Rahaja Corp. to cater to residential, commercial and retail requirements. The first completed area of Mindspace is Inorbit Mall, located on New Link Road, which has become one of the most successful malls in India. It is also one of the best malls in terms of variety and visibility of brands, store placements (clustering similar stores together), public space and entertainment value.

Over 40% of the residents in the primary and secondary catchment areas (within 30 minutes drive from the mall) have traveled abroad, 50% own vehicles and almost the same amount have microwave ovens, all factors that indicate a propensity to spend. The footfalls Inorbit Mall receives are phenomenal, 20,000 per day during the week and 45,000 on the weekends. During festival season, these go up to almost 50,000 during the week and 65,000 on the weekends.

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