Track2Realty: Over the past year, Mumbai continued to remain a preferred city for both domestic and foreign brands keen to open their first outlets or expand their presence across India. The city’s favorable demographics, along with the availability of investment-grade retail space, led to strong demand from retailers for shopping space.
Track2Realty: Emerging markets are offering interesting investment opportunities in terms of shopping center development, according to the latest Asia Pacific Retail Trends and Retail Hotspots reports released by CBRE. The Asia Pacific market in particular continued to see a steady flow of new retailer openings in 2013, amid steady economic growth and generally positive consumer sentiment.
Track2Realty Exclusive: Romesh Singh, a resident of Bhiwadi is quite confused with the city that is fast evolving. After having spent around seven years in Bhiwadi, the city is no more the same that he can relate with. The shopping complexes, malls and the emerging lifestyle is something that he thought is meant for metro cities. But the retail revolution in this till only recently sleeping city has changed everything, adding to the lifestyle choices and hence confusion among people like Romesh.
Track2Realty: Cushman & Wakefield have estimated that the share of luxury retail space in India will be a modest 1.44% by 2015 as against the current 1% even as total retail malls stock is set to increase by 27% by 2015.
Track2Realty: New Delhi witnessed the entry of 13 prominent global retailers in 2012 as compared to 27 in Singapore and 51 in Hong Kong, according to CBRE’s new Retail Hotspots in Asia Pacific report. Hong Kong, Japan and Singapore top the list of cities for new retailer entries across Asia Pacific.
Track2Realty: Despite an 83% drop in supply of organised retail space across key cities in the country, 2012 continued to witness an increase in transaction activity and retailer expansion. According to the findings of CBRE’s latest report “Indian Retail Market View H2, 2012”, approximately 2.5 million sq.ft. of fresh retail space entered the market in 2012, mainly concentrated in Bangalore, Kolkata and Pune, as against over 15 million sq.ft. in 2011.
Track2Realty: In NCR’s retail market, the high street of South Extention (I&II) registered a growth of approximately 21% increase in rental values over the previous quarter, followed by Karol Bagh which registered a growth of 7% in the same period. Khan Market, remained India’s most expensive retail destination with a rental value of INR 1,250/ sf/mth which was higher by 2% over the last quarter. These are the findings of the latest report released by Cushman & Wakefield.
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
In Q2 2012, the retail landscape in India was characterized by subdued demand coupled with restrained supply of mall space and largely stable rentals, says a DTZ report. While continued high inflation levels have restrained consumer spending and delayed purchase decisions, the slowdown in economic growth and weak consumer sentiments have resulted in a sense of uncertainity amongst retailers thereby putting expansion plans on hold.
In Q2 2012, the retail landscape in India was characterized by subdued demand coupled with restrained supply of mall space and largely stable rentals, says a DTZ report. While continued high inflation levels have restrained consumer spending and delayed purchase decisions, the slowdown in economic growth and weak consumer sentiments have resulted in a sense of uncertainity amongst retailers thereby putting expansion plans on hold.