From July to December 2022, fashion and apparel brands were responsible for around 42 per cent of leasing, according to a report from CBRE South Asia. Multinational companies are renting out more space and traditional stores have kept going despite the popularity of online shopping.
In the latest research from CBRE South Asia, titled ‘India Retail Figures H2 2022’ there is a continuous rise in the demand for retail and commercial space in India leading to an increase in the number of buildings designed to house these retail occupants. The research also states that in the second half of 2022, there was a dramatic increase in Delhi-NCR’s retail leasing activity.
Delhi-NCR and Bengaluru were the top growing regions based on the survey and the amount of retail space leased increased by 21 per cent from 2021 to 2022, an addition of 4.7 million square feet.
Additionally, the study found that there was an increased regional presence from international brands which are serving new client verticals in both metro and non-metro areas in India. This came about as a result of their aims for expanding into new markets and building value-based engagement.
According to the research, retail leasing activity increased by 5 per cent from the previous half-year, reaching 2.43 million square feet in the second half of 2022.
