Bangalore: Abuzz with activity
The once quaint east Bangalore suburbs are the latest target of retailers after realtors spotted them first. It seems there is no more space for a major retail venture to pitch tent.
The IT economy is the lifeline of these areas. “The software professionals have disposable incomes, which we hope to tap,” says Mahesh J. Shah, CEO of Home Town, a comprehensive home-making store spread over 180,000 sq. feet.
Retailers are drawing up longterm plans. For instance, Spar, the world’s largest food retail chain with a presence in 34 countries, has tied up with Max Hypermarkets to set up its first Indian outlet spread across 70,000 square feet here. “In the next two years, we will have three hypermarkets in Bangalore,” says Gary Alberts, Head (Retail), SPAR International. Not so long ago, Bannerghatta Road was known only for IIM-B in what was then the periphery of the city.
Today, the 10-km stretch is dotted with software and BPO companies. The apartment projects coming up on the road, however, still border a forest that is home to a large number of wild elephants. Others like Gopalan Mall are ready to join the retail buzz and Reliance Retail is scanning the area to put up its RelianceMart. Tata’s Infiniti Retail has announced it is setting up its Croma store at Marathhalli next year.