Retail Leasing in Delhi-NCR Experiences Growth Due to Fashion and Apparel Sector - According to CBRE Report
Delhi-NCR Retail Market Rebounds in First Half of 2025
The retail market in Delhi-NCR has shown a strong recovery in the first half of 2025, according to property consultant CBRE. The growth is largely attributed to the addition of about 3 lakh sq. ft. of new retail space and the increasing demand from retailers.
Leasing activity in Delhi-NCR's retail real estate market has seen a significant uptick, with approximately 5 lakh sq. ft. of retail space leased in the first half of 2025. This is an increase from the 4 lakh sq. ft. leased during the same period in 2024.
The fashion and apparel sector accounted for 35 percent of all leases in the region's retail real estate market, while homeware and departmental stores were responsible for roughly 30 percent. Food & beverage outlets and other lifestyle retailers comprised the remaining demand for retail spaces.
The growth in leasing activity is a positive sign for the retail sector in Delhi-NCR, which is expected to be sustained by strong consumer spending and continued interest from both global and domestic retailers. Key players in the market include major Indian retail chains like Reliance Retail, Future Group, and international brands such as Amazon, IKEA, and various global luxury and consumer goods retailers.
The recovery in the retail real estate market follows a slow period in 2024, during which no new malls were completed and total area leased fell significantly compared to the first half of 2025. Despite this, developers remain optimistic about the growth in the retail market, emphasizing that modern retail is focused on creating experiences rather than just transactions.
The demand for retail spaces in malls and high streets increased by 25 percent from January to June 2025. Vacancy rates in top-tier spaces in Gurugram are currently less than 3 percent, indicating a healthy market.
Experts predict that Delhi-NCR's retail market will continue to grow steadily throughout 2025, with the rise in consumer footfall and spending encouraging retailers to expand into both prime and emerging markets in the region. The growth of the retail market is also supported by a healthy pipeline of new malls.
In conclusion, the retail market in Delhi-NCR has shown a robust rebound in the first half of 2025, with leasing activity increasing and vacancy rates remaining low. This growth is expected to continue, supported by strong consumer spending and the expansion of both domestic and international retailers.
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