Leasing activity in Bangalore during H1 2018 was witnessed across organized retail developments such as VR Mall, Phoenix Market City Mall, Park Square Mall and Garuda Mall. There was negligible addition of fresh supply as most developments are scheduled for completion in H2 2018.
The city witnessed the launch of several retail outlets. These included Project
Eve (VR Mall) and Street Mama (F&B) in Garuda
Mall, Homelane (furniture) in Park Square Mall, along with Miniso (variety store) in Phoenix Market City Mall. Across the high street segment, brands such as Xiaomi, Urban Ladder, Casio, 1441 Pizzeria, Panasonic, One Plus and Pasta Street continued to expand across prominent high street locations such as 100 Feet Road Indira Nagar, Jayanagar and JP Nagar.
On a half-yearly basis, rental values for high street locations of Commercial Street, Jayanagar 11th Main 4th Block, Kammanahalli /HRBR Layout appreciated by about 4-9%, owing to increasing demand for quality retail space. However, rentals for 100 Feet Road Indira Nagar and New BEL Road remained stable. Among organized mall developments, half-yearly rental increments in CBD/
Off CBD, South Bangalore and ORR were in the range of 3-5%, however, East Bangalore witnessed an increase of around 11-13%. On the other hand, rental values for the mall clusters of West Bangalore remained largely stable.