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Excellent retail leasing

  • 6.4 million sq ft of activity in 2024
  • CBRE report revealed

Retail leasing has made a strong impact across the country. In the eight major cities, a total of 6.4 million square feet of retail leasing activity was recorded in the 2024 calendar year. Additionally, the supply in these cities stands at 1.2 million square feet, as revealed by the prominent real estate consultant CBRE in its latest report. The report also mentions that retail supply is expected to increase significantly in 2025.

In 2024, fashion and apparel continued to dominate retail leasing, accounting for 37% of the total leasing activity. Homeware, department stores followed with 13%, and food and beverages with 12%. In the second half of 2024, retail space leasing in Tier-1 cities reached 3.2 million square feet. Among these, Bengaluru ranked at the top, followed by Hyderabad and Delhi.

Notably, these three cities accounted for 58% of the total retail space leasing in 2024’s second half. City-wise details for this period are as follows: Bengaluru led with 0.7 million square feet of retail space leasing, where fashion and apparel contributed 39%, entertainment 20%, and food and beverages 15%.

Hyderabad recorded 0.6 million square feet of leasing, with fashion and apparel making up 37%, hypermarkets 28%, and luxury retail 9%. Delhi also saw 0.6 million square feet of retail leasing, while Mumbai recorded 0.5 million square feet. Chennai and Pune each saw 0.3 million square feet, Ahmedabad 0.2 million, and Kolkata 0.1 million square feet of retail leasing.

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