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Leasing of retail spaces in shopping malls and high street locations rose 48 per cent to 71 lakh (7.1 million) square feet in 2023 across eight major cities as against 48 lakh (4.8 million) square feet during the 2022 calendar year.
Get latest articles and stories on Business at LatestLY. India's retail leasing market is expected to reach between 6 - 6.5 million square feet in 2024, driven primarily by primary leasing activities while the foreign luxury retailers are also entering in India said the report 2024 India Market Outlook by CBRE South Asia Pvt. Ltd. Business News | Foreign Luxury Retailers to Further Expand India's Retail Leasing Market.
Flexible space operators have become the second-largest sector in office leasing for the first time in the Jan-Mar quarter, accounting for 22% of the total 14.4 million sq ft leased. With tech and BFSI sectors leading, India's office sector outlook remains positive, driven by growing demand and diverse segments.
Get latest articles and stories on Business at LatestLY. The findings have been revealed by the report titled 'CBRE India Office Figures Q1 2024' by CBRE South Asia Pvt. Ltd. The surge in activity by flexible office space operators shows the evolving dynamics of the Indian office leasing landscape. Business News | Flexible Space Operators Claim 22% Share in Office Leasing - CBRE Report.
In 2023, over 5 million sq ft of warehousing space was taken by companies in tier II cities like Lucknow, Chandigarh, Nashik, Hosur and Coimbatore, which are emerging as the central industrial corridors, with Indore, Chandigarh, Coimbatore, Lucknow, Nashik and Jaipur airports being equipped with cargo handling units.