The retail real estate business expands across the country, a recent JLL India study report revealed bright numbers for the next years. According to the survey, there has been a remarkable increase in retail real estate supply across the country’s seven major cities, with developers supporting the development.
The new supply of retail real estate space is predicted to increase by 43% across seven major cities by 2027. The Delhi-NCR has emerged as a pioneer in this expansion, beating other regions in numerous aspects of the real estate industry, making it one of the most attractive locations.
Increasing desire for high-quality retail spaces has resulted in a massive boom in retail investment, which is expected to rise even further in the coming years. The retail real estate industry in Delhi-NCR is a popular location for both local and global companies due to its particular combination of heritage and modernization.
Developers are excited about the opportunities for innovation and the opportunity to shape how retail develops in this sector. The Delhi-NCR region is a commerce and industrial hub that provides a favourable environment for businesses to thrive and prosper.
The total operational retail stock in the top seven Indian cities is an astounding 89 million square feet. With a stunning 28 million square feet of retail space in malls, Delhi-NCR has the biggest share among these cities, underlining its standing as a commercial powerhouse.
The Delhi-NCR region is forecast to provide 11.6 million square feet, accounting for 31% of the expected supply in retail developments predicted between 2023 and 2027 across these top seven cities. This amazing expansion indicates the region’s strength and potential for both investors and developers.
The real estate lands in Delhi-NCR has proven its strength time and again. The city’s diversified population and solid economic fundamentals make an ideal setting for retail expansion. With a considerable supply of retail spaces on the way, the region’s retail industry is poised for a bright rebirth.
The JLL India report reflects what we have seen on the ground: a growing demand for high-quality retail spaces. We are enthused about the possibilities for innovation and shaping the future of retail in our region. The Delhi-NCR is a commercial and industrial hub that provides a fertile ground for businesses to thrive and expand.
Source- The Print
