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Tag: experience-led retail

  • Gurugram Retail Ecosystem: Why Leasing is a Primary Destination

    Gurugram Retail Ecosystem: Why Leasing is a Primary Destination

    Retail leasing in India has had a remarkable run through the first half of 2025, with brands across categories expanding footprints and developers reporting healthy absorption of new spaces. The recovery that began post-pandemic has matured into a phase of steady, experience-led growth, where malls and high-street formats are no longer just transactional hubs but vibrant destinations.

    Delhi-NCR Leads the Growth Curve

    In Delhi-NCR, demand for retail spaces in malls and high streets rose 25% between January and June 2025, reflecting both fresh supply and growing appetite from retailers, as per CBRE. Leasing touched around 5 lakh sq ft in January–June, compared with 4 lakh sq ft in the same period last year.

    This rebound comes after a slowdown in 2024, when total leased areas dropped to 10 lakh sq ft from 14 lakh sq ft in 2023. The big question now is whether this momentum can sustain itself as we move into the second half of 2025 and into 2026.

    Tier-II Cities Catching Up

    What’s equally noteworthy is how Tier-II cities are beginning to catch up, with developers betting on rising consumption potential outside traditional metros. Mixed-use projects and Grade A malls remain the preferred formats, attracting both domestic and international brands eager to anchor themselves in spaces that offer scale, quality, and integrated lifestyle experiences.

    Industry Voices: Developers on the Future of Leasing

    Pushpa Bector, DLF Mall of India

    “The retail sector has proven its flexibility, and leasing momentum continues to reflect this strength. In a market like NCR, scale, innovation, and differentiation are critical. At DLF Mall of India, our goal is to keep every visit fresh with a brand mix, entertainment, and dining that evolve constantly. Leasing interest is strong across categories—from fashion and lifestyle to F&B and experiential concepts.”

    Jatin Goel, Omaxe Group

    “India’s retail leasing momentum reflects both consumer confidence and a structural shift toward experience-driven shopping. At Omaxe Chowk, we’ve curated a modern, hassle-free shopping experience in the heart of Chandni Chowk, blending convenience with heritage charm. By hosting a wide mix of national and international brands, physical retail continues to prove its relevance in the digital age.”

    Siddharth Katyal, Bhumika Realty

    “The NCR market is at an inflection point, driven by a surge in consumption and the desire for holistic retail experiences. Leasing activity here reflects a broader trend—brands want to be in spaces that are future-ready, accessible, and engaging. Retail today is about co-creating ecosystems with developers.”

    Harpreet Singh Hora, Reach Group

    “Gurugram’s retail story has evolved into an ecosystem integrating lifestyle, work, and leisure. With a young, global, and aspirational demographic, demand is rising for adaptive spaces where retail blends seamlessly with entertainment, F&B, and wellness. For brands, Gurugram is now a primary destination, not just an extension of Delhi.”

    Strong Fundamentals Driving Growth

    India’s retail leasing momentum is backed by strong economic fundamentals. Rising disposable incomes, a steady GDP trajectory, and relatively stable inflation are fueling consumer confidence. Discretionary categories such as luxury, F&B, and entertainment are witnessing heightened interest from both brands and shoppers.

    Infrastructure as a Catalyst

    Government-led infrastructure initiatives—expanded metro connectivity, airport upgrades, and better highways—are enhancing accessibility to retail hubs. This has made malls and high streets more attractive for consumers and brands alike, ensuring steady leasing demand.

    The Road Ahead

    Leasing momentum is expected to remain steady in 2025 and beyond, with brands increasingly gravitating toward mixed-use developments and Grade A malls that integrate shopping, dining, entertainment, and lifestyle experiences. As Tier-II cities rise and metros innovate, India’s retail landscape is set for a transformative phase of growth.

  • Grade A Spaces & High-Street Revival: Inside India’s Retail Real Estate Boom

    Grade A Spaces & High-Street Revival: Inside India’s Retail Real Estate Boom

    India’s retail real estate sector is witnessing a remarkable upswing, fuelled by favourable demographics, rising disposable incomes, and a generational shift in consumer behaviour. What was once an industry focused on building bigger malls and increasing store counts has now evolved into a new era—one that prioritises experience-led, multi-sensory retail destinations.

    According to CBRE’s India Market Monitor Q2 2025 – Retail, the first half of 2025 recorded 2.2 million sq. ft. of new operational retail space. Fashion and apparel brands dominated leasing activity, taking a 37% share in Q2, while mall operators diversified tenant mixes with entertainment, food and beverage, and innovative retail formats. This trend is unlocking prime opportunities for both domestic and international brands.

    Generational Shift Driving Retail Design

    India’s urban millennials, Gen Z, and even the younger Gen Alpha are rewriting the rules of retail. No longer satisfied with transactional shopping, they demand integrated experiences that merge shopping with leisure, dining, and culture.

    Developers are rapidly responding by creating mixed-use ecosystems that blend retail with co-working spaces, entertainment hubs, and lifestyle-driven amenities.

    Sanchit Bhutani, Managing Director of Group 108, explains:

    “Noida–Greater Noida is fast emerging as the epicentre of retail and commercial growth. We are witnessing a strong demand shift towards Grade A spaces that seamlessly integrate shopping, dining, and work environments. Especially along key corridors like the Noida–Greater Noida Expressway, these developments are evolving into vibrant destinations that reflect consumer and business aspirations.”

    Emerging Hubs Reshaping India’s Retail Map

    While metro cities continue to lead, emerging hubs are driving the next phase of retail expansion. Gurugram, in particular, is seeing rapid transformation across its high-growth commercial corridors.

    Pankaj Jain, Founder and CMD of SPJ Group, highlights this shift:

    “The true retail renaissance is happening in untapped pockets with diverse spending patterns. These locations are ripe for curated formats that blend convenience with discovery.”

    A JLL report supports this momentum, noting that retail leasing in H1 2025 grew 69% year-on-year, with the top seven cities recording 5.7 million sq. ft. of space leased. Bengaluru and Delhi NCR contributed nearly half of Q2’s gross leasing, led by jewellery, home furnishings, and food and beverage brands.

    High-Street Formats Regaining Popularity

    While malls dominate in scale, high-street retail formats are experiencing a revival—especially in walkable, community-focused corridors.

    Ashwani Kumar of Pyramid Infratech points to Gurugram’s Dwarka Expressway and Southern Peripheral Road as rising destinations:

    “These corridors offer walkable, human-scale shopping districts that act as vibrant anchors for surrounding communities.”

    Similarly, Prakash Mehta, CMD of Ocus Group, sees strong potential in premium retail hubs across Gurugram’s micro-markets:

    “Strategic locations such as Sector 68 are gaining traction due to proximity to residential clusters and superior connectivity.”

    Technology and Personalisation Powering the Future

    The sector’s future growth is being accelerated by AI-driven personalisation, omnichannel retail integration, and upgraded infrastructure. Investors and developers are increasingly aligning projects with consumer-centric design, smart technology, and sustainable practices.

    This convergence ensures that India’s retail real estate boom is not just about square footage, but about creating immersive, connected, and resilient retail environments.

    Conclusion: A Market Poised for Sustained Growth

    With experience-led spaces, evolving consumer demands, and rapid urbanisation, India’s retail real estate market is firmly on an upward trajectory. From premium malls in metro corridors to high-street hubs in emerging cities, the sector is diversifying at an unprecedented pace.

    As developers, investors, and global brands converge on India’s urban landscape, the country’s retail real estate boom is set to remain one of the most dynamic growth stories in the global market.