Retail Leasing in Malls, High Streets Up 18% in Top 8 Cities

New Delhi, Jul 1 (PTI) Leasing of retail spaces in shopping malls and high streets rose 18 per cent to 2.4 million sq ft across eight major cities as retailers look to expand their presence, according to Cushman & Wakefield.

The gross leasing stood at 2.04 million sq ft in the year-ago period across Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad.

High streets continued to attract healthy occupier interest, accounting for a 48.7 per cent share (1.17 million sq ft) during the June quarter.


Category-wise, the consultant noted that fashion continued to dominate leasing activity with a 28.2 per cent share, followed by F&B (food and beverages) at 17.2 per cent. Entertainment (10.8 per cent) and Accessories & Lifestyle (10 per cent) also saw healthy traction.

Gautam Saraf, Executive Managing Director, Mumbai & New Business, Cushman & Wakefield, said India's retail real estate market continues to demonstrate the strength of underlying consumer demand.

"Even in an environment where quality retail supply remains constrained, occupiers have shown a clear willingness to compete for well-located assets, whether in premium malls or established high streets. This has resulted in tighter vacancies, firmer rentals and broader leasing momentum across major cities," he said.

On the outlook, Saraf said the gradual addition of new supply, combined with sustained consumption growth, is expected to improve market availability of quality retail space and create fresh expansion opportunities for retailers.