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Hindustan Times
31-07-2025
- Business
- Hindustan Times
Retail leasing up 69% in H1 2025 to 5.7 mn sq ft; Bengaluru, Delhi NCR lead in Q2: JLL report
India's retail real estate sector saw a 69% year-on-year growth in leasing activity during the first half of 2025, where the top seven cities recorded 5.7 million sq ft of retail space leased, a report by JLL said. While Q2 2025 contributed 2.6 million sq. ft. to the total, it was a 15% dip from the 3.1 million sq. ft. leased in Q1, a short-term decline attributed to a lack of new supply during the April-June period. India's retail real estate sector recorded a 69% year-on-year growth in leasing activity in the first half of 2025, with 5.7 million sq. ft. of space leased across the top seven cities, according to a report by JLL. (Picture for representational purposes only)(Pixabay) "Despite this scenario, a 165% YoY growth in new mall supply was noted in H1 2025 as sizeable mall supply across Mumbai, Delhi NCR, and Hyderabad came on the block in the first quarter. Interestingly, the first half of 2025 has already achieved 70% of last year's annual leasing volume, which stood at 8.1 million sq. ft," the report said. Also Read: Apple India leases 8000 sq ft of retail space in Bengaluru for ₹2 crore annual rent as Foxconn facility nears completion Bengaluru and Delhi NCR lead retail leasing Bengaluru (0.67 mn sq ft) and Delhi NCR (0.53 mn sq ft) emerged as the top performers in Q2, contributing a combined 46% of the gross leasing volume. Bengaluru stood out for its strong take-up in the jewellery and home furnishings categories, while food and beverage dominated retail leasing in Delhi NCR. Hyderabad and Mumbai each added 0.51 ms sq ft and 0.49 mn sq ft of leased space, while Chennai and Kolkata saw modest quarter-on-quarter improvements. P Fashion and apparel continued to lead the retail leasing categories, accounting for 33% of gross leasing in Q2, followed by food and beverage at 22%. Notably, jewellery overtook entertainment for the third spot, with a 9% share, leasing 0.23 million sq ft, primarily in South India and the Delhi NCR region. 'This quarter saw a few European jewellery brands entering the Indian market, while indigenous players dominated overall,' said Samantak Das, chief economist and head of research and REIS, India, JLL. Also Read: Retail leasing hits 8.1 million sq ft across eight cities in 2024; Bengaluru tops the list International brands gain ground as India retains global appeal The report stated that domestic retailers held 85% of the market share in Q2, while international brands expanded their footprint with 13 new entrants, seven of which were in the food and beverage segment. These global retailers leased a total of 0.4 million sq. ft. during the quarter. Bengaluru, which alone contributed a quarter of national retail leasing, continues to be a hub for new store launches. "India's strategic appeal is drawing more international players, with foreign brand entries more than doubling year-on-year in H1 2025," said Rahul Arora, senior managing director, Karnataka and Kerala, JLL India. 'Young demographics, rising disposable incomes, and a growing appetite for premium experiences are helping India stand out globally.' Outlook for H2 2025 JLL expects nearly 5.9 million sq. ft. of new retail space to become operational in the second half of 2025, with upcoming malls across Delhi NCR, Bengaluru, Hyderabad, and Pune. "With these new additions to the retail stock, the gross leasing activity is expected to reach new heights and cross the 10 million sq ft annual mark in 2025", it said.
Time of India
30-07-2025
- Business
- Time of India
Retail leasing in India surges 69% to record 5.7 million sq ft in H1 2025
India's retail sector is witnessing rapid expansion, driven by strong demand from consumers and evolving shopping preferences in urban centres, with both domestic and international brands looking to tap into the rising appetite for organised retail and premium experiences. The top seven Indian markets recorded 5.7 million sq ft of retail space leasing in the first half of 2025, marking a 69% year-on-year jump. This volume is already 70% of the total leasing of 8.1 million sq ft seen in 2024. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Data Analytics others Cybersecurity Product Management Data Science Leadership PGDM Operations Management Technology Project Management Healthcare Finance Management Public Policy Digital Marketing Data Science Degree MCA Others Artificial Intelligence MBA Design Thinking CXO Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details The second quarter (April–June) contributed 2.6 million sq ft, up 17% from the June quarter a year ago, though down 15% from the January–March period. The sequential dip was attributed to limited new supply, with just one mall completed in Hyderabad during the quarter. Still, H1 2025 saw 165% growth in new mall supply, led by additions in Delhi NCR, Mumbai, and Hyderabad. 'While domestic retailers command an 85% market share in Q2 2025, the 15% international presence represents 0.4 million sq ft of prime retail space, with 13 new global entrants, seven in F&B alone,' said Rahul Arora, Head, Office Leasing & Retail Services, Senior MD (Karnataka, Kerala), India, JLL. 'India's strategic positioning, backed by rising affluence and young demographics, continues to attract global brands.' Across key metros, Bengaluru and Delhi NCR dominated with a combined 46% of leasing. While Delhi NCR saw strong uptake by food and beverage players, Bengaluru witnessed steady expansion in jewellery and home furnishings. Hyderabad and Mumbai each saw nearly 0.5 million sq ft of leasing, while Chennai and Kolkata posted marginal increases. Pune remained stable. 'Jewellery overtook entertainment to become the third-largest retail category in Q2 with a 9% share in leasing,' said Samantak Das, Chief Economist and Head of Research & REIS, India, JLL. 'Most demand came from domestic brands in the South, with a few European retailers debuting in Delhi NCR.' Fashion and apparel led with 33% of total leasing, followed by food and beverage at 22%. Entertainment saw a sharp drop from 16% in Q1 to 6% in Q2. The shift in tenant mix reflects evolving consumer spending patterns and brand strategies. With 5.9 million sq ft of new supply scheduled in the second half of the year across Delhi NCR, Bengaluru, Hyderabad, and Pune, 2025's total leasing is poised to cross 10 million sq ft—a new annual high. Retail activity is expected to remain strong through the year-end, underpinned by robust local demand and continued global interest.
Economic Times
07-07-2025
- Business
- Economic Times
India's office market on track for record 2025 with 39.45 mn sq ft leased in H1
India's office real estate shows strong performance. Leasing reached 39.45 million sq ft in the first half of 2025. This is a 17.6% increase from last year. The second quarter was exceptionally strong. Global companies led the leasing activity. Bengaluru led the demand. Technology sector and GCC activity also contributed. Net absorption rose significantly. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's office real estate sector continues to defy global economic uncertainties, delivering a record-breaking gross leasing of 39.45 million sq ft in the first half of 2025, up 17.6% from a year ago. With this, the year is shaping up to be the best-ever for domestic demand as corporate India signals long-term confidence in growth prospects, according to JLL India The performance was buoyed by an exceptionally strong second quarter, where leasing volumes touched 20 million sq ft, marking the best second quarter occupiers led the momentum, accounting for 61.5% of leasing volumes during the quarter, underscoring India's growing stature as a global talent hub. Domestic firms also demonstrated strong activity, leasing 7.7 million sq ft.'India's office market is defying global economic headwinds with remarkable resilience, as evidenced by record-breaking gross leasing of 39.45 million sq. ft in H1 2025—a robust 17.6% on-year increase,' said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. 'With the top seven cities consistently delivering approximately 21 million sq. ft per quarter, India has cemented its position as a mission-critical destination in multinational corporations' global strategies.'This exceptional performance, driven by global occupiers who account for 61.5% of quarterly transactions, according to him, puts the market on trajectory to surpass an unprecedented 80 million sq. ft led demand for the fifth consecutive quarter, accounting for 37.6% of the quarter's leasing activity, registering its second-highest quarterly volume after fourth quarter of 2024. Delhi-NCR followed with a 20.8% share. All major cities recorded higher or stable year-over-year performance, except Kolkata.'The technology sector's resurgence to a three-year high market share of 30.3% in H1, combined with GCC activity breaking all previous Jan-June period records, signals India's commercial real estate dynamics to be in a very healthy state,' said Rahul Arora, Head - Office Leasing & Retail Services, and Senior Managing Director (Karnataka, Kerala), India, JLL. 'Tech firms have already taken up 9.1 million sq. ft in H1 2025—75% of their entire 2024 footprint—signaling a pivot toward innovation-driven expansion. The tech sector reclaimed a 30.3% share, with GCC activity reaching record highs.'GCCs leased 13.85 million sq. ft in H1 2025—up 30.8% y-o-y—led by BFSI and manufacturing, which together made up 55.6% of their share. Bengaluru accounted for over 41% of total GCC demand. Net absorption rose 26.6% y-o-y in H1 to 23.9 million sq. ft—its highest level ever for the first half of any year. Q2 alone saw 11.13 million sq. ft in net average quarterly leasing at ~21 million sq. ft over the past year, India's office market is on course to surpass 80 million sq. ft in 2025. Strong demand from GCCs, tech and BFSI sectors, paired with tight vacancy and active supply pipelines, point to sustained growth amid global headwinds.
Time of India
15-06-2025
- Business
- Time of India
US firms contribute 33% of total office demand in India's top 7 cities in 2022-24: JLL
NEW DELHI: US companies have rented 64.5 million square feet of office space during 2022-24 across India's seven major cities, contributing over one-third of the total leasing of workspaces, according to JLL India. Real estate consultant JLL India data showed that the total gross leasing of office space during 2022-24 calendar years stood at 190 million sq ft across seven major cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune. Out of this, US firms have taken 64.5 million sq ft office spaces on rent, mainly to set up their Global Capability Centers (GCCs). Nearly 70 pc or 64.5 million square feet office spaces were rented for setting up of GCCs. "India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities," said. Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL. GCC-led requirements constitute 70 per cent of all space demand from US occupiers, signaling continued long-term investment and confidence in India as a key R&D and innovation hub, he added. The consultant said that IT city Bengaluru is the most preferred location for US corporates. US-based technologies and BFSI (Banking, Financial Services and Insurance) companies are major drivers of office demand in top Indian cities.>
Time of India
14-06-2025
- Business
- Time of India
GCC boom fuels US demand, US firms drive one-third of office demand in top Indian cities; Bengaluru leads office space race among top 7 cities
US-based companies have emerged as the single-largest contributors to India's office space demand in recent years, accounting for over one-third of gross leasing across the top seven cities between 2022 and 2024, according to data from real estate consultancy JLL India. During the three-year period, total office leasing across Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Pune stood at 190 million square feet. Of this, US firms alone leased 64.5 million sq ft, with nearly 70% of that space taken to establish or expand Global Capability Centres (GCCs), JLL said. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages and a growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities,' said Rahul Arora, Head – Office Leasing & Retail Services and Senior Managing Director (Karnataka, Kerala) at JLL India, PTI reported. The data underlines sustained interest from US-based multinationals in India's technology hubs, led by Bengaluru, which continues to be the top choice for setting up GCCs. JLL noted that GCC-led requirements formed around 70% of all space demand from US occupiers, signalling strong long-term investment and positioning India as a key hub for R&D, technology and innovation. Technology and BFSI (Banking, Financial Services and Insurance) companies from the US are driving much of this office demand, according to JLL, reflecting a broader global shift towards centralising high-end service operations in India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
