Hyderabad leads charts in Q3 retail leasing: CBRE
Hyderabad: Hyderabad, which has been showing growth across office space, co-working and residential segments, is showing growth momentum in retail space as well. The city led the leasing activity in the third quarter of 2021 (July-September) with 38 per cent leasing, touching 2.28 lakh sq ft, followed by Delhi-NCR (26 per cent) and Bengaluru (12 […]
Hyderabad: Hyderabad, which has been showing growth across office space, co-working and residential segments, is showing growth momentum in retail space as well. The city led the leasing activity in the third quarter of 2021 (July-September) with 38 per cent leasing, touching 2.28 lakh sq ft, followed by Delhi-NCR (26 per cent) and Bengaluru (12 per cent).
Hyderabad and Bengaluru witnessed activity from fashion & apparel and supermarket retailers while Delhi-NCR witnessed demand across various retail segments. Retail leasing activity touched 0.6 million sq ft in Q3 2021 across Grade A malls and high streets, witnessing a quarter-on-quarter growth of nearly 165 per cent nationally, according to CBRE South Asia.
Hyderabad, followed by Delhi NCR and Mumbai dominated office supply, with a combined share of 84 per cent. Hyderabad, Bengaluru and Mumbai closely followed by Delhi-NCR led demand and accounted for over 80 per cent of total absorption.
Office leasing activity reached 13.5 million sq ft in Q3 2021 growing at about 140 per cent quarter-on-quarter with the year-to-date number reaching 25 million sq ft for the key cities. Office supply addition in Q3 2021 touched nearly 13.5 million sq ft, growing by about 30 per cent quarter-on-quarter.
Hyderabad accounted for 13 per cent of residential sales during the Q3 2021, following Pune with 33 per cent, Mumbai with 23 per cent and Bengaluru accounting for 17 per cent. Hyderabad accounted for 19 per cent of residential launches.
According to the CBRE report, housing sales pan-India jumped nearly 46 per cent quarter-on-quarter to 50,000 units in Q3, 2021 and sales rebounded significantly by approximately 86 per cent year-on-year on a year-to-date basis.
Anshuman Magazine, chairman & CEO, India, South East Asia, Middle East & Africa, CBRE, said, “India’s real estate market has proven to be extremely resilient over the last year. The overall outlook for the Indian real estate continues to be positive – back of an accelerated vaccination drive, policy reforms, and increasing urbanisation.”
With 3PL and E-commerce fuelling demand, the Industrial & Logistics leasing activity crossed 9 million sq ft in Q3 2021, growing at about 6 per cent quarter-on-quarter and touching 23 million sq ft for nine months of 2021.
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