Retail Space Leasing Skyrockets in India: An Upward Trajectory
The leasing of retail spaces in India's major cities surged by 45% in the July-September quarter due to stronger demand and fresh supply. Key cities like Mumbai and Pune saw significant growth, driven by evolving consumer preferences and rising retail confidence, according to Cushman & Wakefield's latest report.
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- India
Retail space leasing in major Indian cities witnessed a remarkable 45% rise from July to September, boosted by increased demand and the availability of new retail spaces, a report by Cushman & Wakefield says.
In their 'Retail Marketbeat Report', they revealed that gross leasing volume reached 2.41 million square feet, compared to 1.66 million square feet in the same period last year. Mumbai and Pune, in particular, saw notable growth in leasing activities.
Industry leaders attribute this increase to evolving consumer preferences and a growing appetite for quality retail spaces. The current leasing boom reflects confidence in India's retail sector, driven by consumer experiences and the demand for premium spaces.
(With inputs from agencies.)
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