Hyderabad Sees Retail Leasing Touch 4 Lakh sq. ft. During Jan-June

Hyderabad: Hyderabad’s retail leasing during the first six months this year stood at four lakh sq. ft. compared to four lakh sq. ft. in the corresponding period last year. The city recorded a 5 lakh sq. ft. supply during Jan- June period. Fashion and apparel, homeware and department stores drove leasing with a share of about 74 per cent, followed by entertainment (11 per cent), said real estate firm CBRE South Asia in a report.

The key transactions in Hyderabad include Westside (independent building), Azorte, and Max (Aparna Neo Mall).

On a pan-India basis, retail leasing soared to a five-year high in Jan- June 4, taking 3.1 mn sq. ft. across eight cities compared. On an annual basis, retail leasing witnessed a growth of 7 per cent in the first half of 2024, up from 2.9 mn sq. ft in the corresponding period of 2023.

A few investment-grade malls are set to begin operations in Bengaluru, Hyderabad, and Mumbai. These malls are projected to add 3 – 4 million sq. ft. of new retail space in the second half of 2024.

“The ongoing introduction of quality supply is expected to continue stimulating an uptick in overall space take-up in the coming quarters,” said Anshuman Magazine, chairman and chief executive officer, of CBRE.