Booming First Quarter 2025: Retail Leasing Skyrockets Across Major Indian Cities

In Q1 2025, retail leasing surged by 55% across India's top cities, driven by new mall and mainstreet supplies, with Hyderabad leading growth. Key urban centers like Mumbai and Delhi NCR also contributed significantly, fueled by a demand for premium spaces and new developments, according to Cushman & Wakefield's report.

In the first quarter of 2025, retail leasing activity in India surged by 55%, crossing the 2.4 million square feet (MSF) threshold across the nation's top eight cities. This robust growth, detailed in Cushman & Wakefield's Retail Market Beat Report, was attributed to both malls and mainstreets, especially in emerging locations.

Hyderabad emerged as a leader with 34% of the total leasing volume, a remarkable 106% year-on-year increase. Following closely was Mumbai, which captured 24% of the total leasing activity, experiencing a 259% yearly growth, due to new high street locations and additional mall space.

Delhi NCR showed significant traction, with a 17% share of total leasing driven by premium brands and entertainment venues. Meanwhile, Bengaluru and Chennai exhibited stable growth. Notably, two-thirds of the leasing volume occurred in mainstreets, with malls contributing 0.72 MSF. Entertainment and fashion dominated space consumption in malls, while fashion and F&B were prevalent in main streets.

(With inputs from agencies.)