Page 2 - Malls

Malls to close ops after Maharashtra govt insists on fully-jabbed staff

Shopping malls in Maharashtra state on Tuesday decided to close down operations, after the government modified guidelines mandating them to operate with fully-vaccinated staff. It would take at least a month before a "sizeable number" of staff gets both the doses of vaccine and meets the criteria provided there is no shortage of the jabs, the Shopping Centres Association of India (SCAI) said in a statement. Maharashtra had allowed malls to open up last Wednesday after months of closure to contain the spread of infections. However, the government had asked the malls to operate only with double-vaccinated employees and also admit only fully-vaccinated patrons. "In light of the modified guidelines issued by the Government of Maharashtra on 16 August 2021, restraining mall staff from returning to workplace unless they are vaccinated with two doses with a gap 14 days after the second dose, it is unfortunate that malls across the state have decided to close down, a statement from the SCAI

Allow malls, markets to operate till 10 pm: traders' body to DDMA

The Chamber of Trade and Industry (CTI) on Saturday urged the Delhi Disaster Management Authority (DDMA) to allow malls and markets to operate till 10 pm.

Continued closure of malls in Maharashtra big blow to biz, employment: RAI

Retailers Association of India (RAI) on Thursday said that the continued closure of malls in Maharashtra due to COVID-19 pandemic is a big blow to business and lakhs of people working there

Odisha relaxes coronavirus curbs; malls, cinema halls to reopen from Aug 1

The Odisha government announced reopening of shopping malls, parks and cinema halls among several relaxations in all the districts, barring three cities where coronavirus caseload is relatively high

Karnataka Unlock: Malls, shopping complexes ready to open from Monday

As the Karnataka government issued new guidelines to open malls and shopping complexes from Monday,owners in state are also preparing to open their doors to customers while adhering to Covid protocols

Covid-19 curbs could ease in Mumbai as case positivity rate falls below 5%

City can now get classified in level 2 as per Maharashtra govt's unlock rules; malls, cinemas may be allowed to run at 50% capacity

Covid crisis: Shop, eatery owners in Delhi, Mumbai expect muted unlocking

With restrictions on timings and capacity in Mumbai and Delhi, they don't expect to make much money

Staring at huge losses, malls seek to reopen as Mumbai begins unlock

Shop timings extended but formal spaces still shut, say industry players

Phoenix Mills, Brigade Ent: Mall operators not out of woods, say analysts

Weakening financial profile of tenants, particularly of highly impacted sectors, such as multiplexes, food courts and restaurants, due to localized restrictions is expected to hit mall operators, says

Mall rentals fall up to 50% as second Covid-19 wave hits business

Developers non-committal about rent waivers, offer longer revenue-share periods

Malls' revenues to remain lower than pre-Covid levels this fiscal: Report

Despite a healthy rise expected in their toplines this fiscal on a lower base, malls' revenues will still be up to a fifth lower than the quantum seen before the pandemic, a report said on Wednesday. The shopping malls' revenue is likely to grow by 45-55 per cent in FY22, after the 45 per cent dent in the previous fiscal due to the lockdowns, ratings agency Crisil said. It also pointed out that even at the end of the FY22, the topline will be only 80-85 per cent of the industry performance before the pandemic. Commenting on the fresh restrictions after the second wave of infections, the agency said the curbs will affect retail sales but the debt servicing capability of the malls is not likely to be impacted because of strong sponsors and healthy liquidity profiles. "We foresee retail sales in malls declining significantly in the first quarter of this fiscal versus pre-pandemic levels because of fresh restrictions, and recovering gradually by the end of the first half," its senior .

The second wave: Migrant crisis looms again as Covid-19 curbs expand

Lack of business to hit payouts, pushing people out of jobs and cities

Second Covid-19 wave: Mumbai restaurants, malls, hotels feel the pinch

Return of restrictions pushes business down 50% and more

Intensify effort in Covid superspreader areas like malls: Delhi govt to DMs

Calling malls, cinema halls and religious places "superspreader" areas, the Delhi government has directed all district magistrates to greatly intensify enforcement of Covid-19 norms in such places

Hotels, malls face tighter curbs in Maharashtra amid spike in Covid cases

No social, political or religious gathering will be allowed in Maharashtra and capacity in cinemas, malls and restaurants will be curbed at 50 per cent as part of state government's measures

Will exploit future acquisitions with Singapore-based GIC: Phoenix Mills MD

Shishir Shrivastava, MD of Phoenix Mills, talks about about the rationale behind the new venture with Singapore-based GIC.

Prestige Estates Projects looks to offload residual stake in malls

Prestige will sell 85-87 per cent in its nine operational malls to Blackstone in places such as Bengaluru, Mysuru, Mangaluru, and Hyderabad

Unlock 4.0: User industries turn to innovations as economy opens up further

A gamechanger for offices and factories in the country, the Shycocan, which can clear an area of 1000 square feet from coronaviruses, was discovered by accident

Migrant workers from Nepal start returning to India as economy reopens

More than a thousand workers from Nepal have been crossing the Customs at Kailali District of Southern Plain of Nepal to rejoin their jobs in India

Phoenix Mills: Resumption uncertainty to keep stock under pressure

While the company has cash to sustain operations, near term revenues will take a hit