India retail leasing surges 47% YoY in 2023 as new malls drive absorption: CBRE
CBRE India data shows 2023 retail leasing up 47% year-on-year, with new malls contributing 30% of absorption. Mumbai (1.0M sq ft) and Pune (0.8M sq ft) hit five-year highs. Q1 leasing touched 1.5M sq ft. Report also flags 55% small-town online shopping preference and 60% of international brands expanding in H2 2022.
CBRE report shows India retail leasing rose 47% YoY in 2023, driven by new malls; Mumbai and Pune hit five-year highs. Small-town online preference and international brand expansion also noted.