Are the ORCs successful in India?

Another emerging opportunity that has been quite successful is the growth in the development of Office Retail Complexes. The growth of ORC is a great example of the change in the mindset of developers. ORCs are planned to mix well with the office crowd and for retailers it’s a foreseeable business. Retail as an industry is an integral part of economy and retail developments act as epicenter for the community for their leisure & shopping needs. Owners of successful assets have managed to keep footfalls intact and are even growing in certain cases primarily due to their extensive efforts in getting the right mix of tenants for their assets basis their customer profile.The project developed by viridian RED has got some overwhelming response and leased out the first two phases of the project; it is developing the third and final phase and aims to complete it by the year 2020. Area wise, WTC Noida is WTCA's largest operating WTC, second to Beijing, China.

Retail as an asset category was under tremendous pressure and many developers did shy away and even shelved their plans to build malls primarily due to excessive vacancies in malls coupled with low rents. A good retail mix in an office complex provides a lot of ease to the office occupants and values to the assets.