5% growth in the first nine months of this year
Demand for retail space has surged in India. According to the report by Cushman & Wakefield, from January to September this year, leasing in shopping malls and high streets across eight major cities increased by 5%. A total of 5.53 million square feet was leased, compared to 5.29 million square feet last year.
High street leasing rose from 3.44 million square feet to 3.82 million, while mall leasing declined from 1.85 million square feet to 1.72 million. Hyderabad also saw an increase, with 1.72 million square feet leased this year, up from 1.60 million last year. The report attributes the growth to changing conditions post-pandemic.
