Images Retail - - COVER STORY -

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.

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