India witnessed increased transaction activity and retailer expansion in H1, 2012. Leading brands and retailers pursued expansion plans aggressively, increasing their presence across key retail hubs. In all the seven cities presented in the review, the retail real estate market appears to be promising with an increase in retailer enquiries. These are the findings of CBRE’s latest report titled “India Retail Market view.”
Less than a fortnight after ending its joint venture with Giorgio Armani, DLF said it is in the process of breaking its partnership with another Italian luxury brand Salvatore Ferragamo as part of a move to exit luxury brands business.
Substantial addition to supply has kept the rentals for the retail mall space in Pune stable in the first quarter of the year 2012, a report from real estate advisory Cushman & Wakefield India has said.
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
Tata Housing has launched its first pan-India retail brand – GoodLife, specially designed to bring mall culture to urban localities where there are no malls.
East India, which has been for some time on the radar of national and international retailers, has, of late, seen some hyper activity in planning and developing quality retail space by real estate developers.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
Battling huge vacancies, piling inventories and lacklustre rentals, the Indian real estate is looking forward to retail FDI as a savior, expecting a windfall following the entry of global giants looking for more retail space for expansion.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Kolkata-based real estate company Avani Group is to foray into retail business by December, a senior executive said.