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Over the last two decades, we have seen emergence of several new business districts in tier-I cities. This trend started when the cities were expanding rapidly and their conventional Central Business Districts (CBDs) had become saturated or did not serve the needs of corporate occupiers. As the work culture evolves, the need to have a robust retail presence is also felt more strongly than ever before. We sense the gradual birth of a new format of retail in such office agglomerations, which we would like to term as Office-Retail Complexes (ORCs).
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15 February 2016