Resurfacing H1 2026 data: India retail leasing hit a four-year H1 high as mall supply tightened
Gross retail leasing across India’s top seven cities rose 10.5% year-on-year to 6.27 million sq ft in H1 2026 (period ended June 2026), while new mall supply fell 64%. Domestic retailers drove 79.1% of activity, pushing vacancy down to 11.15%.
India’s top-seven-city retail leasing reached a four-year H1 high of 6.27 million sq ft as domestic retailer expansion outpaced constrained mall supply. Vacancies declined, malls gained leasing share, and Mumbai, Delhi NCR and Bengaluru drove more than three-quarters of activity.
Why this matters
The H1 surge follows a Q1 2026 signal that India retail leasing fell 15% QoQ to 3.1M sq ft as mall supply dried up, while high streets outpaced malls. It contrasts with rising hotel investment activity across India.
Store-opening signals are steady: retail leasing fell 15% QoQ to 3.1M sq ft in Q1 2026 before H1 reached 6.27M sq ft.
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- ET Small Business — Same time