Resurgent Retail - Powered by Rising Domestic Consumption

RESURGENT RETAIL

REAL ESTATE RESPONSE & READINESS

India has a total inventory of Grade-A malls to the tune of 61 million square feet (MSF) as of end-2023 across its top 8 real estate markets (excluding the retail assets on the verge of becoming obsolete, i.e. Grade-B malls). The pace of delivery of quality assets has been slower than desired, according to the recent supply addition data. Over the last eight years until 2023, the new completion or commencement of Grade-A malls in India’s annual average hovered around 2.5MSF. This means, merely 20 MSF of Grade-A malls got added in the last eight years, despite consumer demand consistently growing stronger during the same period. Supply-Side Challenges

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