Image Courtesy: ET Retail
The retail sector leasing in India elevated by about 166 per cent Y-o-Y crossing 1.5 million sq. ft., which reveals a sturdy restoration in the sector.
Delhi-NCR and Pune, adopted by Bengaluru and Hyderabad, led the leasing activity, collectively accounting for greater than 70 per cent of the general retail area take-up.
It is to be famous that the style and apparel retailers continued to drive the leasing activity with a share of 32 per cent in H1 ’22.
The report by CBRE South Asia Pvt. Ltd. additionally noticed that as a consequence of robust demand from retailers, rental values elevated on a half-yearly foundation in choose micro-markets throughout most cities.
Amongst excessive streets, rents rose by about 5-12 per cent throughout choose places in Delhi-NCR, Bengaluru, Hyderabad and Pune, and about 1-three per cent in Mumbai.
“It is evident that retailers have regained confidence and are set for expansion mode. We anticipate that going forward, domestic brands will remain proactive in relocations/expansions, and a strong appetite from international retailers will continue,” stated Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE.
CBRE Group, Inc. is the world’s largest business actual property providers and funding agency (based mostly on 2021 income).
