Organized retail real estate stock is relied upon to rise 28% to 82 million square feet by 2023 across six significant cities, as per CBRE.
In its report named ‘India Retail Reboot 2021’, CBRE South Asia said India’s organised retail stock has arrived at 64.3 million sq ft as of H1 2021 and is relied upon to cross 82 million square feet by 2023.
Delhi and Bengaluru are leading the sectors’ development with the expected expansion of more than 5 million square feet each to the overall organised retail stock.
Hyderabad is relied upon to add more than 3 million square feet.
Anshuman Magazine, Chairman, India and South-East Asia, Middle East and Africa, CBRE, said, “The overall outlook for the Indian retail real estate market continues to be positive at the back of an accelerated vaccination drive, policy reforms, and increasing urbanisation”.
“Moreover, with more investors looking at REITs and fractional ownership for the commercial segment, the sector is embarked on a growth trajectory,” he added.
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