Indian malls see strong leasing activity in H1 with 3.16 million square feet: JLL

India’s brick and mortar retail universe is bouncing back with strong leasing activity of 3.16 million square feet recorded in the first six months of the current calendar year till June, according to a study released by JLL on day one of the MAPIC India conference, Wednesday.

Leasing activity in the retail sector was believed to have slowed down during and post pandemic as digital consumption was on the rise.

Shopping mall stock as of first half of calendar year 2023 was 89 million square feet with expected supply pipeline of over 38.04 mn sq ft of retail developments between H2 2023 and 2027 taking the tally to 127 mn sq. ft by the end of 2027, said Dr. Samantak Das, Chief Economist and Executive Director – Research & REIS, India, JLL.