India retail leasing slides 15% QoQ to 3.1M sq ft in Q1 2026 as mall supply dries up
JLL data across 7 major cities shows Q1 2026 leasing at 3.1M sq ft, down from 3.6M in Q4 2025, dragged by just 0.25M sq ft of new supply vs 2.5M prior quarter. Indian retailers drove 79% of deals; fashion led at 33%, entertainment surged to 16%, F&B held 15%. Pipeline of 46.1M sq ft through 2030 signals supply-led recovery ahead.
Retail leasing across India's top 7 cities fell 15% QoQ to 3.1 million sq ft in Q1 2026 due to limited new mall supply. Indian retailers drove 79% of volume; fashion led at 33%, entertainment surged to 16%.