June 06, 2018

Mumbai Real estate services firm ANAROCK Property Consultants has entered into an alliance with Faithlane Property Consultants to set up a new firm ANAROCK Retail to tap into India's burgeoning retail market.

ANAROCK Retail has aligned the new business with the firm's first-in-industry business models to dovetail with the overall operations and consequently deliver a unique bouquet of services to its retail clients. The new retail division will be active across ANAROCK's 10 Indian city offices and internationally in Dubai and will grow in tandem with the firm's expansion into new territories.

"2017 itself witnessed large-scale mall closures and nearly 5 million sqft of retail space was wiped out. These malls can technically be considered 'dead' and the developers are now looking at opportunities to convert the retail spaces into offices, mixed-use, hospitals, etc. In most cases, developers did not invest in strategic research of the tenanting equation, adequate leasing expertise and the right mall management partners," said Anuj Puri, Chairman - ANAROCK Property.

Following this alliance, Faithlane's Anuj Kejriwal will join ANAROCK Retail as its Chief Executive Officer & Managing Director.

Prior to launching Faithlane and its subsequent absorption into the ANAROCK Group, Anuj Kejriwal was National Director for Retail Services at an international property consultant. As CEO & Managing Director for ANAROCK Retail, Kejriwal will lead a team of over 30 retail real estate professionals and aims to ramp up the headcount to 100 over the next 12 months.

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