Hyderabad shows 29% jump in retail absorption: JLL

Vishwas New

Hyderabad, May 14:On the lines of growth Hyderabad is showing in the office space absorption, the city's retail is also showing healthy improvement in its absorption. Hyderabad saw a retail absorption of 31,000 sq ft during Q1 2018, registering a 29 per cent jump from 24,000 sq ft registered in Q1 of 2017.
Real estate services firm, JLL, notes that retail mall absorption recorded a positive trend in Q1 2018 (January - March), nationally. Total absorption across top seven cities of India was recorded at 3,52,000 square feet (sq ft) recording a rise of 69 per cent over the same time last year. The supply side of the market recorded an addition of only 1,60,000 sq ft of fresh mall supply by adding just two new shopping malls in Delhi-NCR.
Of the total leasing activities, 84 per cent took place in Delhi-NCR which recorded 2,92,000 sq ft of mall space absorption. Chennai saw an absorption of 17,000 sq ft.
Total mall space supply recorded in Q1 2018 was lower by close to 90 per cent from same time last year and was recorded at just 160,000 sq ft contributed by 2 shopping center in Delhi - NCR.
The vacancy levels across mall spaces remained stable across most markets with the exception of Delhi-NCR (18%), Hyderabad (11%) and Chennai (7%) that saw marginal decline over past quarter.
Ramesh Nair, CEO and country head, JLL India said, "The increased pace of leasing activities is heartening as it signals towards a growth phase for retail in India. Brands, both national and global, are looking at increasing their presence in key markets, to capitalise on the stability and growth in the economy. Having said that, customer preferences both for brands and retail malls have been altered and today customers view retail malls not only as shopping centres but also as entertainment hubs and lifestyle destinations. Brands are also discerning about the location of their stores and are therefore choosing to align with retail malls.
Ramesh further added, "Landlords in India are actively adjusting tenant mixes and are placing greater emphasis on the experience of shopping. International brands have been entering the country and are expanding rapidly in the past couple of years, with more expected to look for quality space across the country. Some international brands like Kiabi, Mavi, Avva, Colin's, Damat, Tudba Deri and Dufy are likely to enter the country in the next few months."
In the past few months, private equity have taken increased interest in key leasehold retail assets across the country. A leasehold retail property usually has a higher probability of success as the developer is actively involved in the key functions of mall management, especially tenant management.
Various new regulations like easing foreign investment for single-brand retailers, longer shopping hours and an updated framework for establishing real estate investment trusts (REITs) have attracted the attention of various private equity funds.
Source: Vishwas News



No comments yet! Be the first one to leave a comment.

Add Comment


More Hyderabad News

Musi clean-up gains pace ..

Telangana will protect sericulture farmers, says Etela Rajender ..

- TS issues guidelines for implementing Economic Support Schemes
- Global meet on blockchain in Hyderabad
- Fighting rain, flood for Medigadda dream
- Youth, woman held for murder
- Thousands offer 'bonam' to goddess at Golconda
- Tech to scale up healthcare
- Tighter security cover for 16 Metro stations
- New footpaths covering 310 km soon
- Forest offenders to face PD Act: DGP
- National Health Mission lauds Telangana for healthcare
- Few Muslims in Central paramilitary forces, says Asaduddin Owaisi
- Lightning, flood alert systems in TS soon
- Azharuddin keen to contest LS polls from Secunderabad
- Will focus on urban areas after 2019, says KTR
- Zoho to set up two data centres in India
- Telangana Vaidya Vidhan Parishad gets 919 specialist doctors
- Irrigation Dept Chief Engineer in ACB net
- Katrina Kaif's response to Arjun Kapoor's comment on her photo is spot on
- Ahmed Patel moves SC seeking dismissal of plea challenging his election to Rajya
- Hyderabad Zone to push for GST returns filing

Related News

34 new shopping malls to come up by 2020 in 8 cities; 11 in Hyderabad
New Delhi, Oct 16:As many as 34 new shopping malls, covering 13.6 million sq ft area, are expected to come up in top eight cities .. read more
Retail inflation rises to 3.58 per cent, touches seven-month high
Nov 13:The retail inflation has risen to a seven-month high of 3.58 percent in October from a year ago, mainly driven by higher pr .. read more
Jaiveer lone bright spot on a dull day
MANGALURU, May 3: After a heady Saturday, it was a sedate Sunday at the Federation Cup athletics meet. If as many as 11 athletes h .. read more
Brittney Reese wins fourth long jump world title
Aug 12:American Brittney Reese claimed her fourth world long jump title on Friday after a tense, tight contest in which only six c .. read more
Healthy demand driving Hyderabad realty
Vishwas NewsHyderabad, Dec 12: Hyderabad, the second largest urban agglomeration in the country, which had been rated best in term .. read more

More Related News

- Infra developer Phoenix bullish on Hyderabad
- Hyderabad's real estate all set to grow in 2018
- Consumption-driven Hyderabad logistics to grow
- Long Jump prodigy Sreeshankar, on cusp of 8-metre club, eyes Asian Games and Junior Worlds
- City Police and GHMC offer special training for recruitment in police department
- Maruti Suzuki setting up new retail outlets to sell premium products
- Steady rise for Hyderabad office stock
- UAE-based BRS Ventures signs MoU for Mega Investments in Telangana
- Hyderabad gets IKEA's first 'Hej HOME' in India
- Alina Zagitova gives OAR first Pyeongchang gold

More Latest News:

- Musi clean-up gains pace
- TS issues guidelines for implementing Economic Support Schemes
- Telangana will protect sericulture farmers, says Etela Rajender
- Global meet on blockchain in Hyderabad
- 200 check dams coming up in Telangana
- Fighting rain, flood for Medigadda dream
- Break silos, make government seamless for people: President Kovind to newly recruited IAS officers
- PM Narendra Modi wishes former Tamil Nadu CM Karunanidhi speedy recovery
- Ahmedabad 2008 serial blasts accused gets bail
- Congress leader Jairam writes to NMML director over confusion for museum approval
- PNB scam: Fugitive jeweller Mehul Choksi says he took Antigua citizenship last year to expand business
- Eye test can now detect early signs of dementia, says study
- India vs Essex Practice Match: India's frontmen dazzle, sidekicks falter
- Hopeful to be part of England squad in World Cup 2022, says Phil Foden
- Twenty young boys and girls to represent India at Junior NBA World Championship
- Mission: Impossible Fallout box office prediction: The Tom Cruise film will earn Rs 10 crore on Day 1
- Saheb Biwi Aur Gangster 3 movie review: The weakest link is Sanjay Dutt's gangster
- Saudi Arabia joins global pledge to protect disabled rights
- Iran's Revolutionary Guards' chief warns Trump: 'If you begin the war, we will end it'
- Houthis accused of threatening world's electricity supplies
- Youth, woman held for murder
- Rahul Gandhi congratulates ragpicker's son for cracking AIIMS entrance test
- Cows are safer than women in the country, says Shiv Sena chief Uddhav Thackeray
- Bihar clears new liquor bill, CM Nitish says prohibition for betterment of poor
- 'Do not stop writing': Kerala CM Pinarayi Vijayan backs writer Hareesh over novel controversy
This page was created in 0.0858340263367 seconds