New Delhi [India], July 30 (ANI): India’s retail space sector is experiencing significant expansion, driven by both domestic and international retailers, as revealed in a recent report by real estate consultancy firm JLL.
According to the report, the first half of 2025 (January to June) saw a remarkable 69 per cent year-on-year (Y-o-Y) growth in retail space absorption across India’s top 7 cities, reaching 5.7 million sq. ft. This impressive growth means H1 2025 has already achieved 70 per cent of the total leasing volume for 2024, which was 8.1 million sq. ft., indicating a strong year-end projection.
Furthermore, while Q2 CY2025 (April-June) leasing experienced a 15 per cent decline compared to Q1 2025, with 2.6 million sq. ft. of leasing, this is attributed to supply constraints as major mall completions were limited in Q2.
Despite this, new mall supplies in H1 2025 surged by 165 per cent Y-o-Y, with significant additions in Mumbai, Delhi NCR, and Hyderabad during Q1.
Bengaluru and Delhi NCR were the primary drivers of Q2 2025 leasing activity, together accounting for 46 per cent of the total gross leasing volume.
Delhi NCR showed a strong preference for Food & Beverage (F&B) outlets, while Bengaluru saw growth in the jewellery and home furnishings categories. Hyderabad also saw considerable retail space absorption, largely due to a new mall.
Fashion & Apparel and Food & Beverage continue to be the leading retail categories, contributing 33 per cent and 22 per cent respectively to the gross leasing in Q2 2025.
Notably, jewellery has emerged as the third-largest retail category, capturing a 9 per cent share of gross leasing and surpassing entertainment, which dropped from 16 per cent in Q1 to 6 per cent in Q2 2025.
The Indian retail ecosystem is robust, with local retailers commanding 85 per cent of Q2 leasing activity. Simultaneously, international interest is growing, with 13 new international retailers entering India in Q2 2025 alone, seven of which are in the F&B sector. (ANI)
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