16 January 2023, Mumbai
Mall activity has picked up in Hyderabad. The city is witnessing a strong demand for commercial real estate. Developers are planning to offer a new mall supply of 5.5 million sqft in locations such as Miyapur, Jeedimetla, Moulali, Nallagandla and LB Nagar.
The strong growth in consumer demand driven by thriving commercial and residential developments is also expected to boost retail activity in these locations in the coming quarters. During the last quarter, Hyderabad recorded around 4,00,000 sqft of leasing across malls and main streets, registering a staggering growth of 81 per cent over the previous quarter. Leasing in the city was primarily driven by Ashoka Golden Mall commencing operations at Kukatpally and a few standalone projects starting their operations at prime high streets across residential locations such as Chandanagar, Manikonda, Khajaguda and LB Nagar.
Malls such as Sarath City, L&T Malls, DSL, GSM and Ashoka Golden Mall witnessed good traction, together accounting for 31 per cent of total leasing activity during the quarter.Both pan-India and domestic brands as well as international brands were active in mall leasing.
Apparel and clothing segment remained the leading demand driver, followed by sports goods and jewellery brands in malls and main streets.
