Bengaluru is the capital of the state of Karnataka, located in the south east side on the Deccan Plateau. With an estimated population of 8.5 million, Bengaluru is India’s third most populous city and demographically diverse. A major economic and cultural hub, Bengaluru is home to numerous public sector organisations, heavy industries, telecommunications and software companies, defence organisations, aerospace companies, as well as well-recognized colleges and research institutions.
Bengaluru is popularly known as the Silicon Valley of India because of its position as the nation’s leading IT exporter. IT firms in the city employ about 30% of India’s pool of 1.0 million IT professionals. Currently, Bengaluru is witnessing an all-time high demand in commercial and retail real estate. The changing lifestyle of professionals, need for better work environment and interests of foreign investors in the Bengaluru real estate market, as well as its valuation in both the domestic and international markets, have led to an increase in real estate values of the city.
Bengaluru has seen a surge in shopping centre culture, which has been a major attraction for fashion brands. Until a few years back, the established retail precinct was limited to the prominent main streets of Brigade Road, Commercial Street, Jayanagar 4th block and Sampige Road. Over the last few years due to spurt in the IT sector and the influx of population, main streets like 100 ft. Indiranagar, 80 feet Koramangala, New BEL road, Kamanahalli Main Road and HSR Layout 27th Main have emerged. Most of the new shopping centre development is outside the CBD and in peripheral micro markets such as Whitefield, south eastern, and the northern corridor.
Brigade RoadFormerly known as South Parade of Bengaluru, Brigade Road now houses some of the biggest national and international flagship stores. Ranging from apparel brands like Vero Moda, Bossini, and John Hill to F&B brands like Mainland China, Krispy Kreme, Indijoes etc, Brigade Road oozes with youthful charisma. With MG Road metro station a short distance away, Brigade Road is an easily accessible main street in Bengaluru.
JAYNAGAR 4TH BLOCKAnother major commercial area of Bengaluru, Jaynagar 4th Block is one of the first planned neighbourhood in the city. It is a preferred destination of Bengaluru’s elite class. This area is home to some of the finest national and international brands targeting the upper strata of society. Its close proximity to upmarket residential areas also supports its commercial viability among the brands.
INDIRA NAGAR 100 FEET ROADOver the last few years Indira Nagar 100 Feet Road turned into one of the most commercially important streets in Bengaluru. This 2 km stretch also offers fine dining options, international car showrooms, well renowned CDIT stores and a range of international clothing brands.
Commercial StreetFor Bengaluru fashionistas, this 700-meter stretch boasts almost every major apparel and accessory brands and has earned a well-deserved nick name among shoppers – The Fashion Street of Bengaluru. The street offers a range of apparel and accessories ranging from ethnic, western to fusion at reasonable price points.
WHITEFIELDIn the late 1800s, this area was the residential settlement for Eurasians. Whitefield has now become one of the most prominent IT hubs in the city and is home to most of the Fortune 500 IT organizations. Non IT companies have also flocked here to establish their R&D and backend operations. It has numerous tech parks, IT hubs, star rated hotels and a fair amount of residential projects. Prominent shopping centres present in Whitefield are InOrbit Mall, Phoenix Market City, The Collection Mall and Forum Value Mall.
KORMANGALAKormangala is the focal point for the city’s elite. Upmarket bungalows and a variety of luxury apartment projects are located in this area. With an elite catchment in its vicinity, Kormangala attracts the best of brands from every category. The Forum Mall is located in Kormangala and commands the highest retail rental rates for any development in the city.
Whitefield offers a total of 1.8 million square feet (msqf) of retail space spread across five shopping centres. Phoenix Market City, Park Square Mall, The Forum Value Mall are popular shopping centres that became operational during 2011- 2012.
Phoenix Market City is located on the ITPL main road and offers both international and national premium brands including Zara, Mango, Pantaloons, and Steve Madden. This shopping centre also comprises a 9 screen PVR Cinema, restaurants and a food court.
Orion Mall and Mantri Square Mall are the two major shopping centres in the Malleswaram- Rajajinagar area, offering a total retail space of 920,000 sqf and 820,000 sqf respectively.
Mantri Square Mall became operational in 2010 and is located in the same vicinity as the Mantri Square Sampige Road Metro Station. The metro line begins from this location extending up to Nagasandra in the north-west of the city and Puttenahalli in the south. The shopping centre comprises of a departmental store, INOX multiplex movie theatre, and at least 20 F&B outlets as well as a number of international and national brands in apparel, accessories, electronics, and Jewellery segments.
Orion Mall is one of the prominent local shopping centres housing apparel brands such as Allen Solly, Arrow, Blackberry, Fab India, Flying Machine, ColorPlus, Levis, and Louis Philippe. The mall also offers several fast foods outlets and restaurants.
VITTAL MALLYA ROAD
The Collection Mall, located on Vittal Mallya Road, is the city’s luxury shopping centre measuring 88,900 sqf. Louis Vuitton, Burberry, Canali, Estee Lauder and Rolex have their retail outlets in addition to several fine dining restaurants.
|SHOPPING CENTER TO WATCH OUT FOR|
|Center Name||ETa Namma MALL|
|Total Size (Sq.m)||34,188|
|- Retail GLA||28,150|
|Planned Opening Date||Q3 2015|
|Consumer Profile||Mid Segment|
|Description||Expected to comprise of Metro Cash & Carry and 2 other departmental stores as anchor tenants, 8 screen multiplex.|
|SHOPPING CENTER TO WATCH OUT FOR|
|Center Name||RMZ Galleria|
|Total Size (Sq.m)||46,450|
|- Retail GLA||39,110|
|Planned Opening Date||Q4 2015|
|Consumer Profile||Mid and High Segment|
|Description||Expected to comprise of a departmental store, jewellery, apparel brands, INOX multiplex.|
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||AVERAGE RENT (PSFPM)||RANGE OF STANDARD UNIT (SF)|
|Brigade Road||Upper & Mid Segment||Jack & Jones, Vero Moda, Arrow, Allen Solly, John Players, Park Avenue, Adidas, Reebok, Nike, Woodland, Rockport, Sony, Samsung, McDonalds, KFC, Pizza Hut||Nike, Levi’s, Pepe Jeans, Peter England||$5.0-5.3||1,200 - 3,800|
|Commercial Street||Mid & Affordable Segment||Max, Scullers, Westside, Levi’s, Metro, Reebok, Adidas, Raymond, World of Titan, Fasttrack, C Krishna Chettiah, UCB, Latin Quarters, In Mark||Splash, Chumbak,||$5.0-5.3||500 - 3,500|
|Jaynagar 4th Block||Upper & Mid segment||Raymond, Zodiac, Tanishq, Khazana, Adidas, Sony, World of Titan, Titan eye plus, Planet Fashion, KFC, McDonald’s, P C Jewellery||Blackberry, Senco, Jewellers, Planet Fashion||$4.3-4.5||1,500 - 2,500|
|Indira Nagar 100 Feet Road||Upper & Mid segment||GAS, Blackberry, Copper Chimney, Spaghetti Kitchen, Barbeque Nation, Toit, Tangerine, Jack & Jones, Adidas, U.S.Polo Club, Godrej Nature Basket, Avirate, KFC, CPK, Costa Coffee||Linen Club, Jockey||$4.3-4.5||2,500 - 15,000|
|Vittal Mallya Road||Upper & Mid segment||UB City, Chemistry, JCB, CCD Lounge, Java City, The Collectives, Puma||Panasonic, BMW||$5.3-5.8||1,200 - 5,000|
|HSR Layout||Upper & Mid Segment||Soch, Favourite Shop, Arvind Store, Biba, KFC, Mc Donald’s, Subway, Café Coffee Day||I Centre||$2.6-2.8||2,000 - 3,000|
|Kamanahalli||Upper & Mid Segment||Tanishq, Mega Mart, In Mark, Helios, KFC, Mc Donald’s, Woodland, Jockey, Fastrack, Dunkin Donuts||Domino’s, Kanva Mart, Pepe Jeans||$3.0-4.0||2,500 - 5,000|
|Koramanagala||Upper & Mid Segment||KFC, E Zone, Taco Bell, Croma, Tanishq, Puma, Levi’s Nike, Joyalukkas, Gini & Jony||Wild Craft, Kalyan Jewellers||$4.0-4-25||1,500 - 5,000|
|New BEL Road||Upper & Mid Segment||Sony Centre, Reliance Digital, Croma, Kaya skin, Peter England, Woodland, Nike, Puma, KFC, U S Polo, Wrangler, Arrow||Soch, Vodafone, The Heat, W, Scullers||$2.6-3.0||1,500 - 5,000|
Data as of May 2015
Bengaluru has a young and affluent population, which is leading to the mushrooming of new restaurants and cafes in various micro markets. Restaurants like Barbeque Nation have established multiple outlets in the city and serve authentic mughlai and continental barbeques. Traditional Andhra cuisine mastered by the Nandhana Group of Restaurants has a strong following among the local foodies. Being the “Pub City of India,” Bengaluru has some of the best pubs and micro-breweries. Acknowledging Bengaluru’s love for food and alcohol, renowned F&B Brands like Al Bek, Tuscano, Trader’s Vic, and TGIF, Mai Tai, The Biere Club, Blue Foods and others are establishing their outlets in Bengaluru. Some of the prominent F&B areas in Bengaluru are: Church Street, Indira Nagar, Kormangala, New BEL Road and Marathahalli.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATOR INCLUDING||RENT FOR 3,500 UNIT (PSFPM)|
|Church Street||Moderate & Mid Segment||Krispy Kreme, McDonald’s, KFC, Dominos, Pizza Hut, California Pizza Kitchen, Indijoes, Empire, Subway, Matteos, Coconut Grove, Mainland China, Three Quarter Chinese, Kaati Zone, Bella Mooze.||$1.8-2.0|
|Indira Nagar||Upper & Mid Segment||Terrazo, KFC, California Pizza Kitchen, Kobe Sizzlers, Café Ants, Spaghetti Kitchen, Copper Chimney, Rajdhani, Nandhana, Mainland China, Toit, Tangerine.||$2.6-2.9|
|Kormangala||Upper & Mid Segment||Taco Bell, KFC, Mainland China, Kobe Sizzlers, Sahib Singh Sultan, Nandhana, Empire, Baskin Robbins, Waghah, Barbeque Factory, Maharaja, The Elegant Elephant, Punjab Grill, Sphegetti Kitchen, Punjabi By Nature, Manchester United, Purple Haze.||$1.9-2.4|
|New BEL Road||Affordable & Mid Segment||KFC, McDonalds, Pizza Hut, Subway, CCD, Barista, Baskin Robins, US Pizza, Dominos, Ice & Spice, Corner House, Neel, Fresca, Nandhana.||$1.9-2.2|
Data as of May 2015
Nandini Taneja BhatiaAssociate Director, Retail Services
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