Keppel Land Partners has partnered with Indian developer TOI Yamuna Real Estate to develop a posh Mumbai township. A question that begs to be asked is this: will the deal to benefit us in the long run?
The two companies, in which Keppel Real Estate Investment Trust is one of the members, have formed a partnership to build a mall in a mall. The Indian developer plans to build a township in South Mumbai, not far from Vile Parle and Andheri. The mega-mall, they are planning to build will include some high-end residential towers, restaurants, retail outlets and leisure areas.
However, the actual intention of the township developers in Mumbai is to develop a shopping complex, while making use of the real estate at Vile Parle. The developers are hoping to attract a number of shoppers to the township who will spend more money at the mall.
In fact, with the help of Indian developers like TOI Yamuna Real Estate, the township development project will become a lucrative venture for the two parties involved. As they say, the money talks!
Razor-thin profits for developers
Developers will definitely rake in the profits, because the city is booming. The metro is the fastest growing major city in the world and has its own successful shopping complexes such as Bellandur and Bhendi Bazaar. The government has even implemented a set of rules to encourage investment in the city’s real estate sector.
People need to buy, especially now. Shopping malls in Mumbai are mushrooming day by day, as the city keeps on expanding, and more people want to visit these malls and enjoy shopping. Infact, the city has over two hundred shopping complexes. This means more people will be coming to shop at these malls.
Besides, there are more malls coming up every day, and it will not be easy to manage them all. Besides, most of these malls will require huge investments and take a lot of time to build. What this means is that more people need to get their hands on these malls, thus, they will need malls to call their own.
Since so many people are moving into the city, the growth of the city has become a matter of concern for many developers. They need to find ways to accommodate more people in order to sell more products.
A modern city with malls
In fact, Mumbai has so much to offer to people who want to live in a brand new city. The city is at the cusp of modernity. Thus, a growing number of people in the city are looking for exciting activities and a unique lifestyle.
One way of finding out what the people really want is to set up some open malls in a particular city, and then follow the activities taking place in the town. If you are interested in knowing what people want, you can take a close look at what is happening in your own town.
This is the best time to open malls and open shopping complexes in the city, as there is no time limit when the mall will become an open mall. It can even be five years or ten years before you finally open the mall to the public.
This is how real estate can benefit you, as developers will get a chance to meet and talk to people, get a good idea about what they want and then go ahead and build their project. The developers can take what they learn and apply it to their next project. thus, it is a win-win situation for everyone involved!