New Delhi: Abhishek Bansal, executive director of Pacific Development Corp. Ltd, says that he is looking forward to the Phygital Retail Convention as it will bring retailers and developers together on one stage to discuss the expansion plans of both parties.
“Now for example, if I am developing three or four centers over the next three years and similarly other developers are doing the same, what are the expansion plans for the retail side of this?” he said. He believes that discussions, panels, and meetings held at the PRC will help the industry address such questions.
“We kind of [want to] see how we can marry both parties together so that we know that the expansion plans for developers are matching with the retailers,” he said.
He emphasized that the convention will not only streamline the process but also enhance comprehension of diverse retailers’ requirements. This, in turn, will empower developers to achieve optimal occupancy.
“I think this is a very important question right now as to how we can bring both parties together so that we are able to generate the right revenue from the market and bring the right product to the market,” remarked Bansal.
Speaking on the outlook for 2024 for Pacific Group, he said that the company has many malls in the pipeline including a 1.5 million sq. ft. mall in Jaipur, the largest mall in Rajasthan once it is completed in the years to come.
He called 2024 a “very exciting time” for retail development.
“From a retail and shopping center perspective, I think 2024-25 are going to be very exciting years as you may have noticed the backlog of the COVID years from a development perspective where a lot of shopping centers got delayed and are now being delivered,” he said.
Pacific recently launched the Mall of Faridabad and will also open the Mall of Dehradun in the middle of 2024.
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