Hyderabad’s organised retail stock expected to cross 15.5 million sq ft by 2023: CBRE
Green shoots of recovery were witnessed in India’s retail segment with Hyderabad accounting for 11.4 million sq ft of the overall organised retail stock in India at 64.3 million sq ft in H1 2021.
Hyderabad: Hyderabad, which currently accounts for 17.72 per cent of the country’s organised retail stock is expected to reach 15.5 million sq ft within the next two years.
Green shoots of recovery were witnessed in India’s retail segment with Hyderabad accounting for 11.4 million sq ft of the overall organised retail stock in India at 64.3 million sq ft in H1 2021.
Hyderabad which stays ahead over its counterparts such as Mumbai, Pune, and Chennai as of H1 2021 is expected to continue the growth momentum and be ahead of these three cities even by 2023. New Delhi and Bengaluru remain the top two markets in India followed by Hyderabad.
CBRE South Asia, which unveiled its findings of its report titled ‘India Retail Reboot 2021’, highlights that India’s overall organised retail stock has reached 64.3 million sq ft as of H1 2021 and is expected to cross 82 million sq ft by 2023.
Anshuman Magazine, chairman, India & South-East Asia, Middle East & Africa, CBRE, said, “The overall outlook for the Indian retail real estate market continues to be positive on the back of an accelerated vaccination drive, policy reforms, and increasing urbanisation. Moreover, with more investors looking at REITs and fractional ownership for the commercial segment, the sector is embarked on a growth trajectory.”
“With the renewed demand and bounce back of retail, we are seeing a number of international brands both in the retail & the F&B sectors showing interest in the country, and we expect to see them enter India starting early 2022 which would contribute to the overall sectors’ growth going forward,” he added.
The report highlights that with the onset of the pandemic, the consumer behaviour shifted towards ‘conscious buying’, leading to a significant shift in consumer purchase behaviour both across physical retail and e-commerce. The F&B, e-commerce, pharmaceuticals, and the traditional grocery retailers as the top performing sectors witnessed steady growth despite the pandemic.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
