leasing of retail space in malls rose by 55 per cent to nearly 23 lakh sq ft during january september period this year in the eight major cities on better demand according to property consultant cushman wakefield however the supply of space in shopping malls fell by 63 per cent to 195 lakh sq ft during the first three quarters of 2017 calendar year compared to the same period last year these eight cities are delhincr mumbai kolkata pune chennai hyderabad bengaluru and ahmedabad according to the data the leasing activities in chennai rose sharply to 311088 sq ft during januaryseptember 2017 from 85857 sq ft in the yearago period leasing of space in hyderabad stood at 3 lakh sq ft in januaryseptember 2017 against nil in the same period of 2016 shopping malls in bengaluru saw 70 per cent increase in leasing at 507250 sq ft in the first three quarters of this calendar year followed by kolkata that witnessed 55 per cent rise at 276181 sq ft the leasing of retail space in delhincrs shopping malls rose by 31 per cent to 471456 sq ft in januaryseptember mumbai and ahmedabad saw 5 per cent growth in leasing at 168770 sq ft and 150420 sq ft respectively however pune was the only city that witnessed decline in leasing of space in shopping mall at 111800 sq ft down 57 per cent from the corresponding period last year with the estimated size of retail sector pegged at rs 1 trillion by 2020 at an approximately 15 per cent cagr between 20162020 the scope for retail real estate remains high cw india country head and managing director anshul jain said with foreign retailers entering the country and expanding aggressively he said brands prefer to open shops in malls that are likely to see higher occupancy levels hence over the next few years investors will be on a lookout for professionally managed wellrun malls that would witness yields improving and rental values inching up thereby improving returns for investors jain said the consultant also said that as many as 34 new shopping malls covering 136 million sq ft area are expected to come up in these eight cities by 2020 hyderabad will see maximum 11 malls by 2020 followed by delhincr 8 malls bengaluru 6 malls chennai 4 malls kolkata and mumbai 2 malls each and pune one mall no new supply is expected in ahmedabad there is now a regained confidence amongst developers to pay heed to this sector as investors show greater commitment towards it cw said adding that an estimated rs 7959 crore has been invested by private equity funds in malls since 2016 pti published on oct 23 2017 at 0755 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions