Market Summary Leasing activity in Mumbai in H1 2018 was a healthy mix of space take-up by domestic and international players, with most of the activity being driven by players in the apparel segment followed by sports’ retailers. There was steady demand for established shopping centers locations such as Malad and Goregoan in western suburbs and Thane and Kalyan along the eastern corridor. The city did not witness any addition of fresh supply during the review period. However, the second half of the year is expected to witness the completion of approximately 0.8 million sq. ft. of organized retail space in Bandra Kurla Complex (BKC).
Fashion and apparel continued to dominate leasing activity with brands such as Central leasing space in Goregaon. In addition, brand factory also opened two stores in quick succession; one at Mindspace, Malad and another one at Sarvodaya Mall, Kalyan. Decathlon expanded operations by leasing space at Atria Mall, Worli and Trishul Icon, Navi Mumbai.
F&B, leisure and wellness players were active in the market. Popular F&B player, Social opened its 20th outlet at Carter road, Mumbai, while a number of cafés and all-day diners (such as
Tea Villa) came up across the city. Rental Trends
Rentals remained largely remained stable; both across high streets and organised retail due to steady demand. However, due to limited availability of space led to a 16-18% increase in rental values across Linking road.