Malls with their fancy shopping areas, food courts, fun zones, and movie theatres have become the epitome of metropolitan cities. These places have become the go-to entertainment zones for the city population and offer easy finding everything under one roof.
In 2004, Hyderabad got its first mall – Hyderabad Central constructed with an investment of $15.5 million – situated in Panjagutta. Since then, the mall culture in Hyderabad has never looked back. From malls that cater to different budget needs to high-end malls, Hyderabad is home to more than 12 malls, and real estate experts say that this number is set to grow further as the city grows and expands. Many of the malls are currently in the Western corridor catering to the growing IT population, but the newer malls are set to come up in other parts of the city like the Northern and Eastern corridors.
There are 12 well-advanced malls currently in the city, including Hyderabad Central, GVK One Mall, Inorbit Mall, L&T Malls, Forum Sujana, GSM, Manjeera, and Sharath City Capital, and these are all established on the Western side of Hyderabad. According to Naveen Mypala, founder of Urban Living, they foresee eight new malls in Hyderabad in the next two years. They were planned to launch earlier, but their construction got delayed due to COVID lockdown. These malls are being developed in a phased manner, and the focus of the developers has been on the untried places like ECIL X Roads, Musheerabad, and LB Nagar.
Another real estate company, Aparna Constructions, is also entering commercial realty, including warehousing and retail. The company is developing around seven boutique malls across the two Telugu states, and the first will be Aparna Mall at Nallagandla.
On the mall culture in the city, Rakesh Reddy, Aparna Constructions and Estates, said, “Hyderabad’s commercial realty sector displayed its strength and resilience during the pandemic. Electronics, Fashion, and beauty are among the most popular categories buoyed by the festive season and weddings.”
The reports also suggest that the city may witness about a dozen new malls, including small and big shopping complexes, in the next 18 months.
Among these malls, five are being constructed in LB Nagar, Sagar Road, Attapur, AS Rao Nagar, and BHEL, while three are in Dilsukhnagar.