Retail space leasing in malls & high street up 45% across top eight cities in Jul-Sep: Report

Leasing of retail spaces in Mumbai more than doubled to 0.59 mn sq ft

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NEW DELHI: Leasing of retail spaces in shopping malls and prominent high streets rose 45 per cent in July-September across eight major cities on better demand for retailers and fresh supply, according to Cushman & Wakefield.

Real estate consultant Cushman & Wakefield on Wednesday released the ‘Retail Marketbeat Report, which showed that the gross leasing volume (GLV) increased to 2.41 million square feet across the top 8 cities during the July-September quarter against 1.66 million square feet in the year-ago period.

“India’s retail sector continues its growth trajectory, driven by evolving consumer preferences and growing demand for quality retail spaces,” said Gautam Saraf, Executive Managing Director - Mumbai & New Business at Cushman & Wakefield.

As per the data, leasing of retail spaces in Mumbai more than doubled to 0.59 million sq ft from 0.22 million sq ft. Pune too saw 85 per cent growth in leasing to 0.33 million sq ft from 0.18 million sq ft.