representative imagenew delhi leasing of retail real estate spaces more than doubled to 15 million square feet in januarymarch across eight cities as retailers look to expand amid revival in consumption according to cbre india real estate consultant cbre south asia pvt ltd on tuesday released india market monitor q1 2023 stating that retail sector leasing grew by 130 per cent yearonyear to 15 million square feet in januarymarch 2023 ahmedabad led the absorption with a 27 per cent share followed by delhincr at 26 per cent and bengaluru and chennai at 14 per cent each the data includes space takeup in investmentgrade malls prominent highstreets and standalone developments advt anshuman magazine chairman ceo india southeast asia middle east africa cbre said retail supply this year is expected to surpass 2022 levels owing to pentup supply addition with several investmentgrade projects launched in the past two years set to become operational in 2023 this would give a fillip to primary leasing which is likely to be the main demand driver for retail space in 2023 as per the data the leasing of retail space in delhincr rose to 039 million square feet in januarymarch from 007 million square feet in the yearago period in mumbai the demand for retail space jumped to 010 million square feet from 002 million square feet ahmedabad too witnessed sharp jump to 040 million square feet from 001 million square feet similarly in hyderabad the leasing of retail space rose sharply to 007 million square feet from 001 million square feet leasing of retail space in chennai increased to 021 million square feet from 007 million square feet the demand in kolkata remained flat at 002 million square feet however the absorption of retail space in pune fell to 009 million square feet from 02 million square feet the leasing of retail space in bengaluru declined to 021 million square feet in januarymarch 2023 from 026 million square feet in the corresponding period of the previous year according to the report the fashion and apparel segment had a majority share in total leasing activity at 31 per cent followed by homeware and department stores at 19 per cent fb food and beverages at 11 per cent luxury at 8 per cent and consumer electronics at 5 per cent advt ram chandnani managing director advisory transactions services cbre india said we believe that retailers will seek spaces beyond conventional malls and high streets to diversify their location plans thereby enabling supply chain modifications and facilitating customers to shop for any product at any time furthermore he said omnichannel initiatives such as metaverse and social commerce will witness greater traction pti published on may 3 2023 at 0114 pm 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