24 December 2015 11:11:00 IST

NCR, Bengaluru & Mumbai drive investment-grade shopping centre space

CBRE Chairman & MD Anshuman Magazine releases year-end report on retail real estate

In 2015, retail real estate in India was driven primarily by fashion and apparel, and F&B segments.

According to Anshuman Magazine, Chairman & Managing Director, CBRE South Asia, “Delhi’s National Capital Region (NCR), Bengaluru and Mumbai witnessed the most absorption of investment-grade shopping centre space.”

In his Year end wrap-up of India’s retail real estate market in 2015 , Magazine said while domestic brands from segments such as women’s ethnic wear, leather goods, and fashion accessories continued to expand their store portfolios across different channels and new markets; international brands were also aggressive in making their presence felt.

Leading global fashion brands, H&M and Gap, opened their first and second stores in India at Delhi’s Select Citywalk and Ambience Mall, respectively, to long queues and much fanfare.

In fact, both the brands have already secured prime retail spaces in existing and upcoming malls in major cities-bearing testimony to the fact that India has emerged as an important destination for international retailers.

Other global brands to mark their India entry in 2015 included Juicy Couture, G-Star Raw, Aeropostale, and BCBG Max Azria from the apparel segment, along with La Prairie, Bang & Olufsen, Villeroy & Boch, Montegrappa, and Motoplex by Piaggio from other retail segments. Delhi NCR was, in fact, the most preferred point of entry for brands coming to India during this year.