Demand for retail spaces in malls, high streets falls 10% in 2024: CBRE

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Demand for retail spaces in malls, high streets falls 10% in 2024: CBRE - Business Standard

Quick Summary:

"India's retail landscape is set for significant growth in 2025, with primary leasing demand gaining momentum and 5-6 million (50-60 lakh) sq ft of Grade A malls expected to commence operations in cities such as Delhi-NCR, Hyderabad, Mumbai, and Bengaluru," Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE, said.

Leasing of retail spaces in shopping malls and high streets fell 10 per cent last year to 64 lakh square feet across eight major cities due to supply constraints, according to CBRE.

The gross absorption or leasing of retail spaces stood at 71 lakh square feet in 2023 calendar year.