The absorption was led by Bengaluru, followed by Chennai and Delhi National Capital Region.

In the next few quarters, the influx of investment-grade mall supply will influence primary leasing trends, while leading malls across key cities will continue to see strong demand for secondary spaces.

India also attracted global retailers like Charles Tyrwhitt, Maison Margiela and Franck Provost during the six-month period. Other major global retailers from Switzerland, the United States and Japan have also expanded their presence in India, the report noted.

"Leasing in strategic locations is expected to remain steady, with a healthy mix of primary and secondary leasing projected to continue at a consistent pace," it said.

Around 0.5 million sq ft of retail space was added across tier-I cities in H1 2024. Tier-II cities saw an overall space take-up of 0.4 million sq ft during the period, with the absorption dominated by Indore and Kochi, accounting for a joint share of 56 per cent, followed by Lucknow and Chandigarh, each with a 17 per cent share.

Fibre2Fashion News Desk (DS)