Comments
CBRE South Asia, an arm of the US-based commercial real estate services and investment firm, has said that the Hyderabad real estate market has absorbed 2.1 lakh sq ft of investment-grade malls in H2 CY22. This indicates more and more shoppers returning to physical retail shrugging off the Covid-19 fears.
The fashion and apparel segment has led the way with a share of 51 per cent, followed by the food and beverage segment with 25 per cent and hypermarket space with 10 per cent.
Also read: What’s in store for retail in 2023
Retail leasing grew across the country by 21 p.c. year-on-year in 2022 to 4.7 million sq ft, while supply stood at 1.45 m sq ft.
Shoppers have been increasingly opting for ‘hybrid commerce’, a mix of offline and online retail buying.
“The Indian retail sector is recovering, and we anticipate that it will continue to gain momentum through 2023,” Anshuman Magazine, Chairman and CEO (India, South-East Asia, Middle East & Africa) CBRE, said in a statement on Monday.
Also read: Centre looks to tap mom-and-pop stores to boost tax base
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.