Bharat Ruled Retail Real Estate in 2022
The new report from CBRE claims that retail leasing grew by 21 % Y-o-Y in 2022 to 4.7 million sq. ft in 2022. The supply in 2022 stood at 1.4 million sq. ft. Overall, Bengaluru and Delhi-NCR had a major share (61%) in leasing activity in 2022, while Chennai, Hyderabad, and Pune had a 9% share each. The key sectors that drove leasing activity in 2022 were fashion & apparel, food & beverage (F&B), hypermarkets, homeware & department stores.
The evaluation is a much-needed boost for the industry as we enter the new year with fresh goals, hopes renewed energy and positivity. Once again, the industry will have certain promises, goals and missions to take on. Re-building the consumption story of Indian retail is one of them and shopping centres will play a very significant role in this journey.
Going forward, we expect retail leasing to gain traction in Tier II, III, and even IV cities as retailers and landlords are looking to leverage the purchasing power of these towns and cities. Big real estate players and mall developers are reaching out to these cities for their projects in large numbers. Even the international retailers and brands are launching their stores in these upcoming malls.
In this first edition of 2022, we also bring our readers an exclusive interaction with the captains of shopping malls across India. They speak about how they are eyeing growth this year, what their strategy to stay closer to the customer is and how they are implementing technology and learning from the past year to make this year count.
As always, we hope you find the issue informative and useful. Log on to our website https://www. indiaretailing. com/ category/shoppingcentre/ for more features, analysis and expert opinions. Happy reading and wish you all a happy and profitable 2023.