Creating Town Centres And Promoting Retail In Large- Scale: Fill & Download for Free

Wikipedia gives you a more detailed answer, but I can tell ya, the Automobile has done a lot to transform how we shop. Finding a place to park has been a problem ever since the first auto hit the streets which were nothing but horse and buggy trails. Down town business suffered for lack of parking, so the answer was..”shopping malls”. I lived in a small town in Brooksville Fl, and they had a monthly historical magazine that showed Brooksville’s past. On a Saturday, most folk would ride into town and do their shopping at A&P, get an ice cream, or watch a movie. Then one day a store called “Winn Dixie” opened up on a piece of cheap land just outside of this little burg, (sound familiar? it should, thats what wal mart did) and the cars started moving and parking in the Winn Dixie parking lot just out side of town. Now, if your a savvy business owner, your gonna be thinking about getting an edge on your competition and maybe move your business right next to this new store and take the down town vehicle traffic with you to this new parking lot. Thus the term “anchor store” was borne. Well, one thing led to another and pretty soon down town Brooksville died out, and the A&P closed. Remember that term “anchor store”? Well, it didn't take too long for “land developers” to come up with a strategy to acquire big swaths of land, entice big retailers to locate to their facility and provide a park like atmosphere for shoppers to enjoy a day at the “park” and spend loads of $$ in a controlled artificial environment. But, it wasn't just the retail institutions that had to change their business model as a result of the automobile, it was the “Fast food” chains, Banking Chains, “dry Cleaning Chains”. Everything became “drive thru”. Malls are there because people like convenience. In fact, people love the idea of convenience soooo much, that this very thing that gave rise to these spread out malls will now kill them. After all, who in their right mind wants to deal with traffic at the mall when ya can now shop from home and buy stuff from Amazon, eBay, Wayfair? And don't forget, if yer hungry, the hell with the drive thru..Just call “Grub Hub”. The true irony is, that this very convenience which is basically laziness will kill most of in the end. We will die out just like downtown and the malls…Shopping mallFrom Wikipedia, the free encyclopediaJump to navigationJump to search"Shopping center" redirects here. For smaller streetside shopping locations, see Strip mall.Westfield Garden State Plaza is a mall in Paramus, New Jersey.Westfarms Mall is a mall in West Hartford, Connecticut.The interior of the Aviapark in Moscow, Russia.The interior of the Toronto Eaton Centre in Toronto, Ontario, Canada.A shopping mall is a modern, chiefly North American, term for a form of shopping precinct or shopping center in which one or more buildings form a complex of shops with interconnecting walkways, usually indoors. In 2017, shopping malls accounted for 8% of retailing space in the United States.[1]A shopping arcade is a type of shopping precinct that developed earlier and in which the connecting walkways are not owned by a single proprietor and may be in the open air or covered by a ground-floor loggia. Many early shopping arcades such as the Burlington Arcade in London, the Galleria Vittorio Emanuele II in Milan, and numerous arcades in Paris are famous and still trading. However, many smaller arcades have been demolished, replaced with large centers or malls, often accessible primarily by vehicle.Technical innovations such as electric lighting and escalators were introduced from the late 19th century. From the late 20th century, entertainment venues such as movie theaters and restaurants began to be added.[2][3]As a single built structure, early shopping centers were often architecturally significant constructions, enabling wealthier patrons to buy goods in spaces protected from the weather.Contents1Regional differences2History2.1Twentieth-century developments2.2Suburban versions2.3Increasing size3Types3.1Neighborhood center3.2Community mall3.3Regional center3.4Superregional center3.5Fashion/specialty center3.6Power center3.7Theme/festival center3.8Outlet center4Components4.1Food court4.2Department stores4.3Stand-alone stores5Dead malls6New trends6.1Vertical malls6.2Online shopping influence7Shopping property management firms8Legal issues9Gallery9.1World's largest shopping malls/centers10See also11References12Further reading13External linksExpress Avenue Chennai, IndiaIn places around the world, the term shopping centre is used, especially in Europe, Australia, and South America. Mall is a term used predominantly in North America.[4]Outside of North America, "shopping precinct" and "shopping arcade" are also used. In North America, Persian Gulf countries, and India, the term shopping mall is usually applied to enclosed retail structures (and is generally abbreviated to simply mall), while shopping centre usually refers to open-air retail complexes; both types of facilities usually have large parking lots, face major traffic arterials, and have few pedestrian connections to surrounding neighbourhoods.[4]Shopping arcade in Tokyo, JapanRobinsons Place Manila in Manila, PhilippinesIn the United Kingdom and Ireland, "malls" are commonly referred to as shopping centres. Mall primarily refers to either a shopping mall – a place where a collection of shops all adjoin a pedestrian area – or an exclusively pedestrianized street that allows shoppers to walk without interference from vehicle traffic. In North America, mall is generally used to refer to a large shopping area usually composed of a single building which contains multiple shops, usually "anchored" by one or more department stores surrounded by a parking lot, while the term "arcade" is more often used, especially in the United Kingdom, to refer to a narrow pedestrian-only street, often covered or between closely spaced buildings (see town centre).The majority of British shopping centres are located in city centres, usually found in old and historic shopping districts and surrounded by subsidiary open air shopping streets. Large examples include West Quay in Southampton; Manchester Arndale; Bullring Birmingham; Liverpool One; Trinity Leeds; Buchanan Galleries in Glasgow; and Eldon Square in Newcastle upon Tyne. In addition to the inner city shopping centres, large UK conurbations will also have large out-of-town "regional malls" such as the Metrocentre in Gateshead; Meadowhall Centre, Sheffield serving South Yorkshire; the Trafford Centre in Greater Manchester; White Rose Centre in Leeds; the Merry Hill Centre near Dudley; and Bluewater in Kent. These centres were built in the 1980s and 1990s, but planning regulations prohibit the construction of any more. Out-of-town shopping developments in the UK are now focused on retail parks, which consist of groups of warehouse style shops with individual entrances from outdoors. Planning policy prioritizes the development of existing town centres, although with patchy success. Westfield Stratford City, in Stratford (London), is the largest shopping centre in Europe with over 330 shops, 50 restaurants and an 11 screen cinema and Westfield London is the largest inner-city shopping center in Europe. Bullring, Birmingham is the busiest shopping centre in the UK welcoming over 36.5 million shoppers in its opening year.[5]There are a reported 222 malls in Europe. In 2014, these malls had combined sales of $12.47 billion.[6]This represented a 10% bump in revenues from the prior year.[6]The headquarters of the International Council of Shopping Centers, the global trade association of the shopping center industry, are located in 1221 Avenue of the Americas (the middle tower pictured) in Midtown Manhattan, New York City.Cabot Circus in Bristol city centre, United KingdomHongyuan outdoor mall in ShanghaiOne of the earliest examples of public shopping areas comes from ancient Rome, in forums where shopping markets were located. One of the earliest public shopping centers is Trajan's Market in Rome located in Trajan's Forum. Trajan's Market was probably built around 100-110 CE by Apollodorus of Damascus, and it is thought to be the world's oldest shopping center – a forerunner of today's shopping mall.[7]The Grand Bazaar of Istanbul was built in the 15th century and is still one of the largest covered shopping centers in the world, with more than 58 streets and 4,000 shops. Numerous other covered shopping arcades, such as the 19th-century Al-Hamidiyah Souq in Damascus, Syria, might also be considered as precursors to the present-day shopping mall.[8]Isfahan's Grand Bazaar, which is largely covered, dates from the 10th century. The 10-kilometer-long, covered Tehran's Grand Bazaar also has a lengthy history. The oldest continuously occupied shopping mall in the world is likely to be the Chester Rows. Dating back at least to the 13th century, these covered walkways housed shops, with storage and accommodation for traders on various levels. Different rows specialized in different goods, such as 'Bakers Row' or 'Fleshmongers Row'.[9]Gostiny Dvor in St. Petersburg, which opened in 1785, may be regarded as one of the first purposely-built mall-type shopping complexes, as it consisted of more than 100 shops covering an area of over 53,000 m2(570,000 sq ft).The Marché des Enfants Rouges in Paris opened in 1628 and still runs today. The Oxford Covered Market in Oxford, England opened in 1774 and still runs today.The Passage du Caire was opened in Paris in 1798.[10]The Burlington Arcade in London was opened in 1819. The Arcade in Providence, Rhode Island introduced the retail arcade concept to the United States in 1828 and is arguably the oldest "shopping mall" in the country.[11]The Galleria Vittorio Emanuele II in Milan, Italy followed in the 1870s and is closer to large modern malls in spaciousness. Other large cities created arcades and shopping centers in the late 19th century and early 20th century, including the Cleveland Arcade, and Moscow's GUM, which opened in 1890. When the Cleveland Arcade opened in 1890, it was among the first indoor shopping arcades in the US, and like its European counterparts, was an architectural triumph. Two sides of the arcade had 1,600 panes of glass set in iron framing and is a prime example of Victorian architecture. Sydney's Queen Victoria Markets Building, opened in 1898, was also an ambitious architectural project.In the mid-20th century, with the rise of the suburb and automobile culture in the United States, a new style of shopping center was created away from downtown.[12]Early shopping centers designed for the automobile include Market Square, Lake Forest, Illinois (1916), and Country Club Plaza, Kansas City, Missouri (1924). From early on, the design tended to be inward-facing, with malls following theories of how customers could best be enticed in a controlled environment. Similar, the concept of a mall having one or more "anchor stores" or "big box stores" was pioneered early, with individual stores or smaller-scale chain stores intended to benefit from the shoppers attracted by the big stores.[13]Mall construction in America was encouraged by the accelerated depreciation laws of 1954, which incentivized greenfield development on the urban fringe. A second stimulus came from legislation passed in 1960, which allowed investors to band together in REITs (Real Estate Investment Trusts) to avoid corporate income taxes. The laws helped to shape the familiar exurbanlandscape of malls, motels, and fast food chains.[14]In the 1970s in Canada, the Ontario government created the Ontario Downtown Renewal Programme, which helped finance the building of several downtown malls across Ontario such as Eaton Centre. The program was created to reverse the tide of small business leaving downtowns for larger sites surrounding the city. In the first quarter of 2012 shopping mall private investment hit an all-time low under 0.1 percent.[15]Dayton Arcade in the United States, was built between 1902 and 1904 and Lake View Store at Morgan Park, Duluth, Minnesota, built in 1915, held its grand opening on July 20, 1916. The architect was Dean and Dean from Chicago and the building contractor was George H. Lounsberry from Duluth. The early shopping center in the United States took shape at the Grandview Avenue Shopping Center (the "Bank Block") in Grandview Heights, Ohio in 1928, the first regional shopping center in America that integrated parking into the design. This general plan by Don Monroe Casto Sr. became the prototype of shopping centers for several decades.[16]Other important shopping centers built in the 1920s and early 1930s include Country Club Plaza in Kansas City, Missouri, the Highland Park Village in Dallas, Texas; River Oaks in Houston, Texas; and the Park and Shop in Washington, D.C..Lifestyle center located in Woodbury, MinnesotaThe suburban shopping center concept evolved further in the United States after World War II. Bellevue Shopping Square (now known as Bellevue Square) opened in 1946 in Bellevue, Washington, a suburb of Seattle. Town & Country Village also opened in 1946 in Sacramento, California.[17]Then came the Broadway-Crenshaw Center (known today as the Baldwin Hills Crenshaw Plaza), which was dedicated, in the Crenshaw district of Los Angeles on November 10, 1947 as the first major shopping mall on the West Coast. Three more suburban shopping centers were completed in 1949. Town and Country Drive-In Shopping Center (Town and Country Shopping Center), in Whitehall, Ohio was a strip-type complex erected in the environs of Columbus, Ohio. Park Forest, Illinois' Park Forest Plaza (Park Forest Downtown) was built along the lines of a cluster-type complex. It was situated in the southern suburbs of Chicago, Illinois. Cameron Village contained a shopping center as part of a planned community in what was then the outskirts of Raleigh, NC.In April 1950, the suburban shopping mall came into being with the opening of Seattle's Northgate Center (now known as Northgate Mall). This was followed by Lakewood Center (1951), in Lakewood, California; Shoppers' World (1951), in Framingham, Massachusetts;[18]Stonestown Center (now Stonestown Galleria) (1952) in San Francisco, California; and Northland Center (1954), in Southfield, Michigan. Open-air-type malls were also built in Canada and Australia. Don Mills Convenience Centre (now Shops at Don Mills) opened in 1955, in Toronto, Ontario. Chermside Drive-In Shopping Centre started trading to the public in 1957, in Brisbane, Australia.The fully enclosed shopping mall did not appear until the mid-1950s. One of the earliest examples was the Valley Fair Shopping Center in Appleton, Wisconsin,[19]which opened in March 1955. Valley Fair featured a number of modern features including a large parking area, anchor stores, and restaurants. The idea of a regionally-sized, fully enclosed shopping complex was pioneered in 1956 by the Austrian-born architect and American immigrant Victor Gruen.[20]This new generation of regional-size shopping centers began with the Gruen-designed Southdale Center, which opened in the Twin Cities suburb of Edina, Minnesota, United States in October 1956. For pioneering the soon-to-be enormously popular mall concept in this form, Gruen has been called the "most influential architect of the twentieth century" by Malcolm Gladwell.[21]The first retail complex to be promoted as a "mall" was Paramus, New Jersey's Bergen Mall. The center, which opened with an open-air format in 1957, was enclosed in 1973. Aside from Southdale Center, significant early enclosed shopping malls were Harundale Mall (1958), in Glen Burnie, Maryland, Big Town Mall(1959), in Mesquite, Texas, Chris-Town Mall (1961), in Phoenix, Arizona, and Randhurst Center (1962), in Mount Prospect, Illinois.The world's first enclosed shopping mall was opened in Luleå, in northern Sweden in 1955 (architect: Ralph Erskine) and was named Shopping; the region now claims the highest shopping center density in Europe.[22]The first fully enclosed shopping mall in Canada was Wellington Square. It was designed for Eaton's by John Graham, Jr. as an enclosed mall with a department store anchor and subterranean parking which opened in downtown London, Ontario, on August 11, 1960. After several renovations, it remains open today as Citi Plaza.[23]Other early malls moved retailing away from the dense, commercial downtowns into the largely residential suburbs. This formula (enclosed space with stores attached, away from downtown, and accessible only by automobile) became a popular way to build retail across the world. Gruen himself came to abhor this effect of his new design; he decried the creation of enormous "land wasting seas of parking" and the spread of suburban sprawl.[13][24]In the UK, Chrisp Street Market was the first pedestrian shopping area built with a road at the shop fronts. The first mall-type shopping precinct in Great Britain was built in the downtown area of Birmingham. Known as Bull Ring Centre (now Bull Ring, Birmingham), it was officially dedicated in May 1964. A notable example is the Halton Lea Shopping Centre (originally known as Shopping City) in Runcorn, which opened in 1972 and was conceived as the center point for the new town's development. Another early example is the Brent Cross Centre, Britain's first out-of-town shopping mall and located on the northern outskirts of London, which was opened in March 1976.In the United States, developers such as A. Alfred Taubman of Taubman Centers extended the concept further in 1980, with terrazzo tiles at the Mall at Short Hillsin New Jersey, indoor fountains, and two levels allowing a shopper to make a circuit of all the stores. Taubman believed carpeting increased friction, slowing down customers, so it was removed. Fading daylight through glass panels was supplemented by gradually increased electric lighting, making it seem like the afternoon was lasting longer, which encouraged shoppers to linger.[25][26]Main article: List of largest shopping malls in the worldThe former Camp SnoopyAmusement park before it was Nickelodeon Universe at the center of the Mall of America in Bloomington, Minnesota, the largest shopping mall in the United StatesThe size of shopping centers and malls continued to increase throughout the twentieth and into the twenty-first centuries. With approximately 2,400,000 sq ft (220,000 m2), the Ala Moana Center in Honolulu, Hawaii was one of the largest malls in the United States when it opened for business in August 1959. The Outlets at Bergen Town Center, the oldest enclosed mall in New Jersey, opened in Paramus on November 14, 1957, with Dave Garroway, host of The Today Show, serving as master of ceremonies.[27]The mall, located just outside New York City, was planned in 1955 by Allied Stores to have 100 stores and 8,600 parking spaces in a 1,500,000 sq ft (140,000 m2) mall that would include a 300,000 sq ft (28,000 m2) Stern's store and two other 150,000 sq ft (14,000 m2) department stores as part of the design. Allied's chairman B. Earl Puckett confidently announced The Outlets at Bergen Town Center as the largest of ten proposed centers, stating that there were 25 cities that could support such centers and that no more than 50 malls of this type would ever be built nationwide.[28][29]The largest enclosed shopping mall from 1986 to 2004 was the 350,000 m2(3,800,000 sq ft) West Edmonton Mall in Edmonton, Alberta, Canada.[30]Currently, the largest mall in the world is the New South China Mall in Dongguan, China with a gross floor area of 892,000 m2(9,600,000 sq ft). The world's second-largest shopping mall is the Golden Resources Mall in Beijing, China with a gross floor area of 680,000 m2(7,300,000 sq ft). SM Megamall in the Philippines, is the world's third-largest at 542,980 m2(5,844,600 sq ft) of gross floor area. The fourth largest shopping mall in the world is SM City North EDSA in Quezon City, Philippines with a gross floor area of 504,900 m2(5,435,000 sq ft) and the fifth largest shopping mall is 1 Utama in Malaysia at 465,000 m2(5,010,000 sq ft) of gross floor area.The most visited shopping mall in the world and largest mall in the United States is the Mall of America, located near the Twin Cities in Bloomington, Minnesota. However, several Asian malls are advertised as having more visitors, including Mal Taman Anggrek, Kelapa Gading Mall and Pluit Village, all in Jakarta, Indonesia; Berjaya Times Square in Malaysia; SM City North EDSA, SM Mall of Asia and SM Megamall, all in Metro Manila, Philippines. The largest mall in South Asia is Lucky One Mall in Karachi, Pakistan.Philippines has the most number of shopping malls in the top 100 largest shopping malls in the world with 22.The International Council of Shopping Centers classifies shopping malls into eight basic types: neighborhood center, community center, regional center, superregional center, fashion/specialty center, power center, theme/festival center, and outlet center.[31]These definitions, published in 1999, were not restricted to shopping centers in any particular country, but later editions were made specific to the US with a separate set for Europe.Main article: Strip mallA neighborhood center in the form of a strip mall, in Cornelius, OregonNeighborhood centers are small-scale malls serving the local neighborhood. They typically have a supermarket or a drugstore as an anchor, and are commonly arranged in a strip mall format. Neighborhood centers usually have a retail area of 30,000 to 150,000 square feet (2,800 to 13,900 m2), and serve a primary area in a 3-mile (4.8 km) radius.[31]They are sometimes known as convenience centers.Community malls are larger than neighborhood centers, and offer a wider range of goods. They usually feature two anchor stores which are larger than that of a neighborhood center's, e.g. a discount department store. They may also follow a strip configuration, or may be L- or U-shaped. Community centers usually feature a retail area of 100,000 to 350,000 square feet (9,300 to 32,500 m2) and serve a primary area of 3 to 6 miles (4.8 to 9.7 km).[31]RioMar Shopping in Recife, Brazil, with a gross leasable area of 101,000 m2(1,090,000 sq ft)[32]A regional mall is, per the International Council of Shopping Centers, in the United States, a shopping mall which is designed to service a larger area than a conventional shopping mall. As such, it is typically larger with 400,000 sq ft (37,000 m2) to 800,000 sq ft (74,000 m2) gross leasable area with at least two anchor stores and offers a wider selection of stores. Given their wider service area, these malls tend to have higher-end stores that need a larger area in order for their services to be profitable but may have discount department stores. Regional malls are also found as tourist attractions in vacation areas.[33]Westfield Carousel, in a suburb of Perth, Australia, with a gross leasable area of 82,874 m2(892,050 sq ft)A super regional mall is, per the International Council of Shopping Centers, in the US a shopping mall with over 800,000 sq ft (74,000 m2) of gross leasable area, three or more anchors, mass merchant, more variety, fashion apparel, and serves as the dominant shopping venue for the region (25 miles or 40 km) in which it is located.[33]Fashion or specialty centers feature apparel shops and boutiques and cater to customers with higher incomes. They usually have a retail area ranging from 80,000 to 250,000 square feet (7,400 to 23,200 m2) and serve an area of 5 to 15 miles (8.0 to 24.1 km).[31]Main article: Retail parkPower centers are small shopping centers that almost exclusively feature several big-box retailers as their anchors. They usually have a retail area of 250,000 to 600,000 square feet (23,000 to 56,000 m2) and a primary trade area of 5 to 10 miles (8.0 to 16.1 km).[31]Terminal 21 in BangkokTheme or festival centers have distinct unifying themes that are followed by their individual shops as well as their architecture. They are usually located in urban areas and cater to tourists. They typically feature a retail area of 80,000 to 250,000 square feet (7,400 to 23,200 m2).[31]Main article: Outlet storeAn outlet mall (or outlet center) is a type of shopping mall in which manufacturers sell their products directly to the public through their own stores. Other stores in outlet malls are operated by retailers selling returned goods and discontinued products, often at heavily reduced prices. Outlet stores were found as early as 1936, but the first multi-store outlet mall, Vanity Fair, located in Reading, PA did not open until 1974. Belz Enterprises opened the first enclosed factory outlet mall in 1979, in Lakeland, TN, a suburb of Memphis.[34]The layout of a mid-sized shopping center Babilonas in Panevėžys, Lithuania (with main stores marked in text).Main article: Food courtA common feature of shopping malls is a food court: this typically consists of a number of fast food vendors of various types, surrounding a shared seating area.Main articles: Department store and Anchor storeWhen the shopping mall format was developed by Victor Gruen in the mid-1950s, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller stores in the mall as well. These larger stores are termed anchor store or draw tenant. In physical configuration, anchor stores are normally located as far from each other as possible to maximize the amount of traffic from one anchor to another.[citation needed]Frequently, a shopping mall or shopping center will have satellite buildings located either on the same tract of land or on one abutting it, on which will be located stand-alone stores, which may or may not be legally connected to the central facility through contract or ownership. These stores may have their own parking lots, or their lots may interconnect with those of the mall or center. The existence of the stand-alone store may have been planned by the mall's developer, or may have come about through opportunistic actions by others, but visually the central facility – the mall or shopping center – and the satellite buildings will often be perceived as being a single "unit", even in circumstances where the outlying buildings are not officially or legally connected to the mall in any way.[citation needed]Main article: Dead mallBelz Factory Outlet Mall, an abandoned shopping mall in Allen, Texas, United StatesIn the United States, in the mid-1990s, malls were still being constructed at a rate of 140 a year.[35]But in 2001, a PricewaterhouseCoopers study found that underperforming and vacant malls, known as "greyfield" and "dead mall" estates, were an emerging problem. In 2007, a year before the Great Recession, no new malls were built in America, for the first time in 50 years.[36]City Creek Center Mall in Salt Lake City, which opened in March 2012, was the first to be built since the recession.[14]In recent years, the number of dead malls increased significantly in the early twenty first century because the economic health of malls across the United States has been in decline, with high vacancy rates in these malls. From 2006 to 2010, the percentage of malls that are considered to be "dying" by real estate experts (have a vacancy rate of at least 40%), unhealthy (20–40%), or in trouble (10–20%) all increased greatly, and these high vacancy rates only partially decreased from 2010 to 2014.[37]In 2014, nearly 3% of all malls in the United States were considered to be "dying" (40% or higher vacancy rates) and nearly one-fifth of all malls had vacancy rates considered "troubling" (10% or higher). Some real estate experts say the "fundamental problem" is a glut of malls in many parts of the country creating a market that is "extremely over-retailed".[37]In parts of Canada, it is now rare for new shopping malls to be built. The Vaughan Mills Shopping Centre, opened in 2004, Crossiron Mills, opened in 2009, and Tsawwassen Mills Mall in 2016, are the only malls built in Canada since 1992. Outdoor outlet malls or big box shopping areas known as power centers are now favored, although the traditional enclosed shopping mall is still in demand by those seeking weather-protected, all-under-one-roof shopping. In addition, the enclosed interconnections between downtown multi story shopping malls continue to grow in the Underground city of Montreal (32 kilometres of passageway),[38]the PATH system of Toronto (27 km (17 mi) of passageway)[39]and the Plus15 system of Calgary (16 km (9.9 mi) of overhead passageway).[40]In Russia, on the other hand, as of 2013 a large number of new malls had been built near major cities, notably the MEGA malls such as Mega Belaya Dacha mall near Moscow. In large part they were financed by international investors and were popular with shoppers from the emerging middle class.[41]In the United States, owners are making drastic moves to convert struggling malls. This includes converting malls into apartments, offices and industrial space. Other owners have taken the approach to turning large chunks of malls into parks and playgrounds. In Austin, Texas, Highland Mall was converted into a community college. Much of the 600,000 square foot mall will be the home of Austin Community College.[42]The Fashion Centre at Pentagon City, in Arlington, Virginia, United StatesHigh land prices in populous cities have led to the concept of the "vertical mall," in which space allocated to retail is configured over a number of stories accessible by elevators and/or escalators (usually both) linking the different levels of the mall. The challenge of this type of mall is to overcome the natural tendency of shoppers to move horizontally and encourage shoppers to move upwards and downwards.[43]The concept of a vertical mall was originally conceived in the late 1960s by the Mafco Company, former shopping center development division of Marshall Field & Co. The Water Tower Place skyscraper, Chicago, Illinois, was built in 1975 by Urban Retail Properties. It contains a hotel, luxury condominiums, and office space and sits atop a block-long base containing an eight-level atrium-style retail mall that fronts on the Magnificent Mile.[citation needed]Vertical malls are common in densely populated conurbations such as Hong Kong, Jakarta, and Bangkok. Times Square in Hong Kong is a principal example.[43]A vertical mall may also be built where the geography prevents building outward or there are other restrictions on construction, such as historical buildings or significant archeology. The Darwin Shopping Centre and associated malls in Shrewsbury, UK, are built on the side of a steep hill, around the former outer walls of the nearby medieval castle;[44]consequently the shopping center is split over seven floors vertically – two locations horizontally – connected by elevators, escalators and bridge walkways. Some establishments incorporate such designs into their layout, such as Shrewsbury's McDonald's restaurant, split into four stories with multiple mezzanines which feature medieval castle vaults – complete with arrowslits – in the basement dining rooms.Faced with the exploding popularity of buying online, shopping malls are emptying and are seeking new solutions to generate traffic. In the US, for example, roughly 200 out of 1,300 malls across the country are going out of business.[45]To combat this trend, developers are trying to turn malls into leisure centers that include attractions such as parks, movie theaters, gyms, and even fishing lakes.[46]Others, such as the European commercial real-estate giant Unibail-Rodamco, are modernizing their approach by promoting brand interaction and enhanced architectural appeal. A recent example that integrates both approaches is the So Ouest mall outside of Paris that was designed to resemble elegant, Louis XV-style apartments and includes 17,000 square metres (180,000 sq ft) of green space.[47]The Australian mall company Westfield launched an online mall (and later a mobile app) with 150 stores, 3,000 brands and over 1 million products.[48]Online shopping has increased its share of total retail sales since 2008. In Q3 2008, it comprised 3.6% of retail purchases and this increased to 7.4% by Q3 2015.[42]See also: Category:Shopping property management firmsA shopping property management firm is a company that specializes in owning and managing shopping malls. Most shopping property management firms own at least 20 malls. Some firms use a similar naming scheme for most of their malls; for example, Mills Corporation puts "Mills" in most of its mall names and SM Prime Holdings of the Philippines puts "SM" in all of its malls, as well as anchor stores such as The SM Store, SM Appliance Center, SM Hypermarket, SM Cinema, and SM Supermarket. In the UK, The Mall Fund changes the name of any center it buys to "The Mall (location)", using its pink-M logo; when it sells a mall the center reverts to its own name and branding, such as the Ashley Centre in Epsom.[49]Similarly, following its rebranding from Capital Shopping Centres, intu Propertiesrenamed many of its centres to "intu (name/location)" (such as intu Lakeside; again, malls removed from the network revert to their own brand (see for instance The Glades in Bromley).Shopping center management and advisory firms are bringing about professional management practices to the largely fragmented shopping center development industry in India. Historically, land ownership in India, has been fragmented and as a byproduct shopping center development, which rendered the single mall developers vulnerable to dubious advice and practices, since standard benchmarks, knowledge resources, and skilled people were scarce. This is changing as new firms promoted by former shopping center managers are stepping in to bridge the gap between ownership and professional management.[citation needed]Beyond Squarefeet[50]from India is another mall management company, which is foraying into various other countries such as India, Iran, Nepal, Nigeria, Qatar, etc. Mall management is slowly becoming a trend and is much sought after services in Asia and other markets.One controversial aspect of malls has been their effective displacement of traditional main streets or high streets. Some consumers prefer malls, with their parking garages, controlled environments, and private security guards, over CBDs or downtowns, which frequently have limited parking, poor maintenance, outdoor weather, and limited police coverage.[51][52]In response, a few jurisdictions, notably California, have expanded the right of freedom of speech to ensure that speakers will be able to reach consumers who prefer to shop, eat, and socialize within the boundaries of privately owned malls.[53]

TOP 5 AREAS TO INVEST IN PUNEPune, a cultural and educational hub of India, attracts students and buyers from all over the country and abroad. It has been on the radar for investors for quite some time now given its exemplary education and employment opportunities. Pune is often referred to as the pensioner’s paradise, due to its greenery and tranquil climate. It has also seen a lot of traction from NRIs or expats who want to own a home or just invest in their country of origin.Pune hosts some of the top real estate micro-markets in India backed by a high return on investment due to various growth drivers like:-IT boomEducational OpportunitiesArmy BaseAutomotive HubExcellent Social InfrastructureProximity to India’s Financial capital, MumbaiPune’s concentric development pattern coupled with its ability to expand geographically along with emerging economic hubs is driving its real estate market to new heights. Maharashtra has been a forerunner in the effective implementation of RERA, thus creating positive momentum in the industry and encouraging consumer interest. This has been a tremendous boost for the real estate market in Pune, backed by its new-found transparency and accountability. Moreover, Pune has emerged as the best-governed city and most equipped to deliver urban reforms in an all-India survey conducted by Janaagraha Centre for Citizenship and Democracy.Here are the top 5 areas to invest in Pune which promises unprecedented growth in the future:KharadiKharadi is placed along the banks of the panoramic Mula-Mutha River and lush green landscapes. Located in the eastern corridor of Pune city, Kharadi is the new IT hub of Pune backed by a booming micro-market with a range of industries which include IT, ITeS, hospitality, retail, and education. It shares a boundary with key locations like Kalyani Nagar, Viman Nagar, Wagholi, Mundhwa, Hadapsar and Koregaon Park.Kharadi enjoys excellent connectivity to prime localities via. Pune-Ahmednagar Highway, Mundhwa Road, Grant Road, and Fountain Road. Pune International Airport can be reached in a matter of 10-15 min along with several rail connectivity options like Pune Junction, Hadapsar, Shivaji Nagar, Khadki, and Manjari. The on-going Pune metro project will connect Vanaz in Kothrud to Ramwadi near Kharadi.Kharadi is home to some of the most renowned names in the commercial & IT space, like World Trade Centre, EON IT Park, Kharadi IT Park, Magarpatta Cybercity and Cerebrum IT Park. Well connected to Pune city, Kharadi has become the preferred choice for home buyers and has revolutionized the ‘Walk to Work’ and ‘Neighbourhood Planning’ concept. Besides, there are many other industrial areas like Hadapsar, Wagholi, Ranjangaon, Sanaswadi etc. Social infrastructure is promoted and developed on a large scale, marking the Kharadi landscape with established educational, healthcare and retail brands.Real estate prices have also subsequently shot up, but it still continues to be affordable for mid-income homebuyers. Kharadi has witnessed a capital appreciation of almost 140% during the last ten years. From Rs 2700/sq.ft. In 2008, it rose to 4600/sq.ft. In 2014, and currently, the prices of residential property in the locality are touching Rs 6400/sq.ft. Furthermore, there are many infrastructure projects that are advancing smoothly which when complete will stimulate the residential realty market. Reputed builders such as Kolte-Patil Developers, Goel Ganga Group, Mantri Developers, Godrej Properties, Marvel Realtors, etc. have on-going and launched projects in Kharadi. 2bhk and 3bhk apartments are the first preference of home-buyers in Kharadi.UndriUndri has transformed from a sleepy neighbour of Kondhwa to a fast developing suburban area of South Pune encompassing several industrial and IT hubs. Undri flashed in the real estate picture after immense pressure on land resources was felt on NIBM Road, Kondhwa, and Hadapsar.One of the biggest advantages of investing in Undri is its exemplary connectivity to core and fringe areas of Pune, facilitated by major roads running through the region. Mumbai-Hyderabad Highway, Mumbai-Bengaluru Highway, Pune-Saswad Road, and NIBM Road are major lifelines of this region. The development of proposed Pune Ring Road will facilitate swift and hassle-free linkages to all parts of Pune. Pune Junction and Hadapsar Railway Station serve rail connectivity and can be reached from Undri in 20min. The Pune International Airport located at Lohegaon is a 15 km drive. The proposed Greenfield International Airport at Saswad-Purandar will be approximately 22 km from Undri but will be a hassle-free commute as Undri will be the nearest developed micro-market.SP Infocity Phursungi, Magarpatta City and Amanora Park Town are located within a range of 8-9 km and house some of the most renowned IT majors. Small and large-scale industries ranging from automobiles, electronics, biotechnology, chemicals, pharmaceuticals, textile, etc. have been established in the presence of MIDC at Hadapsar Industrial Estate and Swami Vivekananda Industrial Estate in Handewadi. The social infrastructure in Undri is top-notch with state-of-the-art educational and healthcare facilities which are accessed by people from across India.Pune has been witnessing a rapid influx of working population from outside the city. As a result, there has been a sudden boost in the demand for residential apartments. Undri is a residential destination which still offers unspoiled natural splendour and expansive greenery which Pune was once famous for. It is surrounded by key localities like NIBM, Kondhwa, Hadapsar, Market Yard, Katraj, Wanowrie, Fatima Nagar, etc. The land rates are in the affordable range of Rs 3,900 –Rs 5,200 per sq. ft. Home buyers prefer to purchase property in Undri because it also provides good rental income from the ever-growing floating population. Green landscapes, affordable land rates, excellent connectivity, proximity to commercial hubs, upcoming Greenfield Airport, and rapidly developing social infrastructure has made Undri one of the hottest emerging residential market of not just Pune, but entire India.HinjewadiHinjewadi is a north-western suburb of Pune located off the Dehu-Katraj bypass. It is the biggest IT hub in Pune and makes for a handsome investment option. It is one of the hottest realty hubs in the city at present offering several investment opportunities in premium and mid-range housing projects. It is a proposed hub for integrated townships in Pune with an objective to decongest core areas of Pune and encourage peripheral settlements. Hinjewadi stands out owing is its location and connectivity to other Pune localities and Mumbai-Pune Expressway.The area offers great connectivity to Mumbai, Bengaluru and other core areas of Pune via Pune-Bangalore Bypass and Mumbai-Pune Expressway. Pune Airport is at a distance of 25 Km via the Hinjewadi-Aundh road. A metro route between Hinjewadi and Shivajinagar is proposed to connect PMC, PCMC and MIDC areas.Rajiv Gandhi IT Park, Embassy Techzone, Quadron Business Park and Blueridge are well-known IT Parks which have attracted IT professionals from all over India. Hinjewadi has witnessed skyrocketing commercial development and other key industries like biotechnology, IT, manufacturing, pharmaceuticals and automobiles are flourishing here. Educational institutes like Pune University, Sinhagad College, Indira College, and MIT are in close proximity. Also, Aundh Chest Hospital, Sahyadri Hospital, and Medpoint are some well-established medical centres here.Backed by potential future growth and the rising demand for residential property, it is a fitting location for investing in Real Estate. It shares a boundary with Wakad and Balewadi in the east, Tathawade to the north, and Baner and Bavdhan in the south. Renowned real estate developers like Kolte-Patil, Godrej, Kohinoor, Shaaporji Pallonji, and Paranjape have projects in Hinjewadi. Property prices have shown a healthy growth from Rs 4300/sq.ft. in 2014 to Rs 5600/sq.ft. in 2019. In the years to come, it is destined to witness further traction owing to the availability of vast tracts of land, Grade-A commercial developments and increasing residential demand.BanerBaner is located on the western fringe of Pune and has developed into a promising real estate hotspot and an alternative to saturated micro-markets in central Pune. Baner is a destination generally preferred by end-users looking for luxury and affordable homes or techies looking for rental options.Baner is connected to neighbouring localities via the arterial road – the Mumbai-Bengaluru Highway and Baner road. There is an availability of good public transportation which allows residents to commute to work without any hassles. The Expressway runs off the Katraj-Dehu Bypass (NH 4) right next to the locality.Hinjewadi’s development as an IT hub has driven the rental market of Baner. Some medium-sized businesses and IT parks are also located in Aundh and Kothrud. Commercial offices like Nanospace IT Park, ICC Trade Tower, and RMZ Westend have attracted IT professionals in large numbers to Baner. Industrial pockets in nearby areas, like Pirangut, Talegaon and PCMC, further contribute to the growing demand for residential properties in the region, among working professionals. Well-developed physical and social infrastructure are the biggest growth drivers of Baner, making it one of the hottest residential micro-market of Pune.Baner is bordered by Pashan in the south, Balewadi to the west, Aundh to the north and Pune University to the east. There are a plethora of options to choose from- apartments, commercial properties, villas and residential plots. IT professionals employed in Hinjewadi prefer renting in Baner owing to the available ready-to-move-in stock. Numerous prominent developers like ABIL, Panchshil, Kolte-Patil, DSK, and Kalpataru have projects offering a wide variety of options in Baner. Historically, real estate in Baner has provided a good return on investments with prices hiking from Rs 5600/sq.ft. in 2014 to Rs 7000/sq.ft in 2019. Thus, this typical residential micro-market is one of the best bets for investors looking to invest in real estate in Pune.WakadWakad is situated on the north-western fringe of Pune and has emerged as one of the most sought-after investment hubs in recent times. It was developed due to spillover demand from well-developed localities of Baner and Aundh. It is surrounded by residential suburbs like Pimple Nilakh and Pimple Saudagar to the east, Baner and Balewadi to the south, Akurdi and Chinchwad to the north, and Hinjewadi to the west. The major growth factor of Wakad is its exemplary road connectivity, the presence of employment opportunities and vast tracts of developable land.Wakad boasts excellent intercity and intracity road connectivity. The major roads that run through this area are Wakad-Bhosari BRTS Road, Wakad Road, and the Mumbai-Pune Expressway. The Chinchwad Railway Station is the nearest station at 8 Km from the locality, and the Pune Airport is a 45-minute drive away.Rajiv Gandhi IT Park, Embassy Techzone, Quadron Business Park, Blueridge IT Park, Talawade MIDC IT Park, and Panchshil Tech Park are in close proximity to the area. This makes Wakad a highly lucrative zone for commercial investments. The primary reason for the constant price appreciation of property in Wakad is its proximity to the IT and industrial hubs of Pune.In the last couple of years, the PCMC has granted the maximum number of building permissions for Wakad. With rapid price appreciation over the years, Wakad promises excellent ROI. The growth potential and upcoming development projects in the area make it a highly sought-after commercial and residential locality. Moreover, PCMC has selected Wakad for area-based development under the Smart Cities Mission, which is bound to address necessary concerns and further boost its realty prospects. IT professionals in Hinjewadi and working population in industrial areas of Pimpri Chinchwad prefer Wakad due to its affordable offerings and potential of giving high returns on investment. Land prices have hiked from Rs 4600/sq.ft. in 2014 to Rs 5800/sq.ft. in 2019. Reputed builders like Paranjape, Kolte-Patil, Kohinoor, BU Bhandari, and Mont Vert have completed and on-going projects to choose from in Wakad. Hence, with exemplary connectivity, affordable prices, proximity to commercial belts, and future growth potential make Wakad one of the best micro-market to invest in Pune.Hope this helps…

10 Best Indian Brands...1) Tata - $10,907 millionIn a free enterprise, the community is not just another stakeholder in business, but is, in fact, the very purpose of its existence'; that, in a nutshell, is the fundamental philosophy espoused by founder Jamsetji Tata. It is a tenet embedded in the Tata group of companies, to date. Integrity, understanding, excellence, unity and responsibility are the core values driving the multinational conglomerate that was started by a then 29 year old Jamsetji Tata as a trading company in 1868. The legend of Tata has seeped into popular culture, including the story of how Jamsetji began the Taj Mahal hotel in Mumbai after finding hotels discriminating against the native population in colonial India.Today, the Tata group operates in sectors that encompass steel, energy and auto where it's the maker of products as diverse as the Jaguar and the Nano. It has also ventured into the consumer products and services industry with interests in everything from retail to hospitality. According to a company spokesperson the Tata brand and the group composite mark (the capital 'T'), reflect the shared commitment of all Tata companies to adhere to common values and principles. Tata Sons, which owns the brand, is responsible for promoting and protecting it, encouraging group companies to adopt the centrally administered Tata Business Excellence model across all areas of operation.However, one of the most crucial strengths of the Tata brand is the company's unwavering commitment, since the very beginning, to philanthropy. It's no wonder then that Tata is the country's most valued brand.2) Reliance industries - $6,247 millionWhen Dhirubhai Ambani returned to India in 1957 after a stint in Aden and started his own little yarn trading business, he probably couldn't have anticipated the size his business enterprise would grow to. The success of Reliance Industries is a classic testament to the great Indian middle class dream.A true-blue Indian giant with footprints across categories that include retail, telecom and technology among others, the Reliance Group is India's largest private sector enterprise, and its flagship Reliance Industries Limited; a Fortune Global 500 company is possibly the largest private sector company in India.Starting with textiles, the company pursued a strategy of backward vertical integration — in polyester, petrochemicals, petroleum refining etc — to be fully integrated along the materials and energy value chain. Today it enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products.Its foray in the burgeoning Indian retail market started in 2005 with the launch of Reliance Retail and the brand has been expanding its value and specialty formats (Reliance Fresh, Reliance Footprint, Reliance Jewels etc.). The company has brought in Hamleys, launched iStore by Reliance Digital as a one-stop-shop for all Apple products and services in India.In addition it has got Steve Madden, a leading fashion-forward footwear and accessories brand and Quiksilver, a leading outdoor sports lifestyle brand. Besides, the textile division's legacy brand Vimal, is set to make a comeback. Betting big on mobility, currently the company is also actively working on offering its fourth generation (4G) wireless services across the country to deliver integrated digital services that could well be the next game changer from its stable.3) Airtel - $6,220 millionBack in 1984, a company in its nascent stage brought us redemption from the rotary-dial telephone instruments. In a technical tie-up with Germany's Siemens AG, it was Sunil Bharti Mittal's Bharti Telecom that gave India its first push-button phones under the brand name Beetel. Telecom renaissance thus became a part of Airtel's DNA right from its inception.4) SBI - $3,838 millionFor the record, SBI is the only public sector brand in the Top 10 of Best Indian Brands 2013, and is one of four public sector banks in the Top 30. It began life during the Raj, as the Bank of Calcutta established in 1806. Three years later it became the Bank of Bengal. In 1955, on 1st July, State Bank of India was constituted under the State Bank of India Act 1955, for the purpose of taking over the undertaking and business of the Imperial Bank of India.Today, 58 years later, the Indian banking behemoth known as SBI with its ubiquitous blue disc is present in cities and towns, big and small, across the country. It has over 186 offices spread across 34 countries, two in China, may we add. Here's a little perspective on SBI's presence. Around the time India won its independence, the Imperial Bank had a network of 172 branches and more than 200 sub offices all over the country.According to SBI's latest annual report, as at 31st March 2013, there's a total of 14,816 branches. Of those 66% (9,851 branches) are in rural and semi-urban areas. Add to that one of the largest ATM networks in the world (32,752 ATMs as at 31 March 2013), and earlier this month the bank opened its 3333rd talking ATM. It's a solid endorsement of how a public sector organisation can become consumer oriented, competitive and beat both the private sector and global banking behemoths at their game.5) Infosys - $3,797 millionWe're talking about India's second largest IT services company by market capitalisation ($ 31 billion) as well as net sales. We're talking about India's first NYSE listed company that was started in 1981 by N R Narayana Murthy and six other engineers with just $250 in capital from an apartment in Pune. We're talking about a brand that employs 155,000 people and makes Bangalore's Electronic City harbour dreams of besting Silicon Valley some day.It's an organisation that's known for the credibility associated with N R Narayana Murthy and Nandan Nilekani. We're talking about Infosys — a name that takes upon itself the onus of 'building tomorrow's enterprise' (also their baseline).Known for its out-of-the-box approach to innovation, Infosys has a stated aim of making the business of its clients future proof using seven drivers — digital consumers, emerging economies, sustainable tomorrow, smarter organisations, new commerce, pervasive computing and healthcare economy. It was the first to offer ESOPs to its employees in 1993.It's also been voted as India's most admired company in The Wall Street Journal's Asia 200 survey from 2000 to 2010. In 2012, Infy (the brand's popular sobriquet) crossed the $7 billion revenue mark. By February this year, it had started trading on NYSE Euronext and Paris markets as well. And it doesn't need the massive, memorable advertising and brand campaigns of the others in the Top 5 to make it to Best Indian Brands.6) HDFC Bank - $3,277 millionWe are custodians of our customers' deposits and their trust is a reflection of our conservative approach towards our business" is how India's leading bank, HDFC Bank describes itself. The approach seems to have paid well for the bank, as it grabs the 6th position, 2 notches below the giant SBI and 2 notches above the formidable ICICI.With a network of 3,119 branches, 11,088 ATMs across 1,891 cities/towns in India servicing more than 28 million customers the bank attempts to be present across all touchpoints. This could be through branches, ATMs or even mobile and online, since according to the company spokesperson, "financial services brands are built on 'moments of truth', and each time our customers experience our services, it is an opportunity to establish what we stand for."7) Mahindra - $2,576 millionMahindra has a stated aspiration to be a Top 50 most admired global brand within the next 10 years. Firmly established in industries from IT and aerospace to finance and automotive, brand Mahindra has become a true symbol of Indian industrial might. For an entity that operates across very diverse sectors, the brand is a very important driver of results.It is the 'reason why' a customer (or a potential employee) approaches the business in the first place or puts Mahindra in his or her consideration set. After this, the strength of the business offering takes over. In 2009, the group set in motion a business transformation program called 'Rise', a philosophy to guide the brand into the next phase of its life. Cross-functional teams have been set up to integrate the brand into all aspects of business, beginning with intensive communication that touched all employees.Still in the midst of an overhaul of their visual identity, the process will be completed six months from now. Mahindra has launched several brand building programs targeted at stakeholders, their B-school campus branding initiative, for instance, 'The Mahindra War Room' is one example. And these initiatives and movements like 'Spark the Rise', a platform to help propel innovation, entrepreneurship and grassroot level changes across the country have made Mahindra one of the nation's most admired brands.8) ICICI Bank - $2,571 millionICICI Bank along with many other firsts to its credit is also possibly the first in the category that made marketing a bank-brand fashionable, much like soaps and colas. In a relatively short span of time — it has been around since 1994 — the bank has become a well-recognised brand across the country.With a slew of product offerings, it has followed a two-pronged approach — achieving improved financial numbers and creating a great customer experience. "To make the customer service proposition stronger, the guiding philosophy has been 'Khayaal Aapka' that seeks to embody the bank's relationships with customers that go beyond transactions", according to the bank spokesperson. The company has been striving to make continuous innovations across banking touch points such as ATMs, internet, mobile and call centre, to make financial transactions faster, simpler and more secure.There has been an ongoing thrust on developing next generation products and applications to enhance customer convenience. For instance realising the power of the mobile as the medium of the future, the bank was the first to introduce mbanking in the country with the launch of the iMobile application in January 2008. Today, iMobile is compatible with over 4,000 phone models and this application lets the customer do almost everything that is possible on the Internet banking platform.It is also the first and the only bank in India to introduce a powerful new "Bank App" on its official Facebook page. Their 24*7 electronic branches give round the clock access to the customers. That's not all; taking the technology right up to the customer's doorstep, the bank has launched 'Tab Banking' to offer a potential customer the convenience of opening a bank account from his home or office.9) Godrej - $2,456 millionWhen everyone who's reached 30 claims it's the new 20; one can imagine how arduous a task it would be to stay young at 116. To its credit, the Godrej group has fared well so far. From manufacturing its first safe in 1902, to creating a free browser-based 3D virtual world called GoJiyo in 2010, the group has certainly come a long way.The shop that Ardeshir Godrej, a lawyer turned locksmith and his brother Pirojsha set up in Mumbai's Lalbaug area was the start of an empire that now employs 26,000 people and has a turnover of around $3.7 billion. The group believes its hunger for a consistent high performance has taken it to greater altitudes year-on-year.10) L&T - $2,320 millionOf all the brands in the Top 10, L&T has arguably the most improbable origin story. It was founded in 1938 by two Danes, Henning Holck-Larsen and Soren Kristian Toubro. Friends and former schoolmates, Toubro and Larsen arrived in India in the early 1930s to set up a cement factory in Coimbatore. L&T began operations importing Danish farming equipment, but soon moved to manufacturing, as imports got disrupted by the World War II. Confirmed Indophiles, they opted to remain in India even post independence.Through the pre-liberalisation era, L&T grew synonymous with large scale building projects of strategic importance to the nation including the Amul Dairy at Anand. The founders insisted on building the company as a professionally managed meritocracy, going to the extent of preventing senior management from hiring their children into L&T.A company spokesperson says, "L&T has been guided by a customer focused approach, developing products or building projects that were never done before, setting global benchmarks of scale and size."Today L&T, is a diversified B-to-B company with a presence in some B-to-C businesses like financial services and realty. Through its growth and transformation, it's maintained its brand values: integrity, customer commitment and professionalism.