Retail leasing surges to 7.2 million sq ft in 2023

20 February 2024, Mumbai

Retail leasing increased by 47 percent. Y-o-Y to 7.1 million sq ft across eight Indian cities in 2023, according to the India Market Monitor Q4 2023 report by real estate consulting firm CBRE.

Total retail supply also surged by 316 percent cent Y-o-Y to reach a historic peak of 6 million sq. ft. in 2023.Retail leasing in 2023 was predominantly steered by fashion and apparel, with around 32 percent share in total leasing influenced by mid-range fashion value and athleisure brands.

Interesting data-points

CBRE, a globally integrated commercial real estate & investment services firm that transforms real estate into real advantage, was the first international property consultancy to set up an office in India in 1994. Since then, the operations have grown to include more than 10,000 professionals across 15 offices, with a presence in over 80 cities in India.

As a leading international property consultancy, CBRE provides clients with a wide range of real estate solutions, including Strategic Consulting, valuations and appraisals, Capital Markets, Agency Services, and Project Management.