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.
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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.
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