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Cushman & Wakefield India
Delhi's upscale Khan Market has retained the 22nd rank in a global list of most expensive high-street retail locations with an annual rent of USD 229 (over Rs 19,000) per sq ft, according to Cushman & Wakefield. Via Monte Napoleone in Milan, Italy, has become the most expensive main street globally with an annual rent of USD 2,047 per sq ft, beating New York's Upper 5th Avenue (49th to 60th Sts) which commands a rental of USD 2,000 per sq ft a year. Global real estate consultant Cushman & Wakefield on Thursday released the 34th edition of its flagship retail report 'Main Streets Across The World 2024' that focuses on headline rents in 138 best-in-class urban retail locations across the globe. The global index ranks the most expensive destination in each market. With rents at USD 229 per square foot annually (around Rs 19,330), Khan Market retains its position on the prestigious global list and continues to be India's most expensive high street, the consultant said. Khan Market
Gross leasing of office space across top eight cities is likely to cross 80 million square feet this calendar year, beating a record 74.5 million square feet during 2023, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield on Wednesday released its report on the office market for the third quarter of this calendar year. The gross leasing of office space rose 66 per cent to 24.8 million square feet across the top eight cities in Q3 2024, marking the second highest quarterly leasing volume in the sector's history. During January-September, the gross leasing has reached 66.7 million square feet. Office leasing stood at 49.1 million square feet in 2018; 67.7 million square feet in 2019; 46.6 million square feet in 2020; 50.4 million square feet in 2021; 72 million square feet in 2022; and 74.5 million square feet in 2023. "Strong market fundamentals have sustained extraordinary leasing momentum in the Indian office market, as evidenced by the remarkably ...
Leasing of retail spaces in shopping malls rose 15 per cent annually during the April-June period to 6.12 lakh square feet across eight major cities on better demand from retailers, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield India data showed that the demand for retail space on major high streets across these eight major cities increased 4 per cent annually to nearly 14 lakh square feet during the second quarter of the 2024 calendar year. As per the data, the leasing activities in shopping malls rose to 6,12,396 square feet during April-June 2024 from 5,33,078 square feet in the year-ago period. High street locations saw a growth of 4 per cent in leasing to 13,89,768 square feet from 13,31,705 square feet during the period under review. The leasing data includes all types of shopping malls- Grade A and Grade B -- and also all prominent mainstreets. These eight cities are -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and ...
The demand of premium office space across major cities is likely to exceed 70 million square feet this year and going forward as work-from-home is no longer a concern for the Indian commercial real estate market, said Cushman & Wakefield India chief Anshul Jain. Cushman & Wakefield, one of the leading global real estate consultants, is bullish on the Indian office market, driven by high demand from global capability centres (GCCs) and domestic companies across major sectors. In an interview with PTI Videos, Jain, Chief Executive, India & Southeast Asia and Head of Asia Pacific Tenant Representation, Cushman & Wakefield, said, "India is now being called the Office of the world interestingly. And the demand in India is one of the highest in Asia, and in fact the rest of the world." Indian office market across seven major cities is witnessing a very strong demand, with both gross leasing and net leasing reaching around pre-COVID level, he said. "So, from an office market .
Bengaluru, the most prominent city for commercial real estate market, saw a 39 per cent decline in gross leasing of office space during July-September with corporates making delays in taking decisions to expand business, according to Cushman & Wakefield. According to data released by real estate consultant Cushman & Wakefield, the gross office leasing in Bengaluru fell to 22,13,654 square feet (sq ft) during July-September from 36,39,339 sq ft in the year-ago period. Across eight major cities, the absorption of office space fell 13 per cent to 151,18,147 sq ft from 173,76,222 sq ft. Anshul Jain, Head of APAC Tenant Representation and Managing Director, India & South East Asia, said, The office segment is seeing major shifts in terms of evolving occupier demands. "India is currently in the spotlight as a preferred destination for business expansion, the top tier markets are destined to witness more innovation and traction in the real estate place. We can expect a healthy ...
As many as 34 new shopping malls, covering 13.6 million sq ft area, are expected to come up in top eight cities by 2020 as the scope for retail real estate remains high, according to Cushman & Wakefield. Hyderabad will see maximum 11 malls by 2020, followed by Delhi-NCR 8 malls, Bengaluru 6 malls, Chennai 4 malls, Kolkata and Mumbai 2 malls each and Pune one mall. No new supply is expected in Ahmedabad. "India will see close to 34 new malls by 2020 in the top 8 Indian cities," the consultant said in a report. Leasing of retail space in malls increased by 55 per cent during JanuarySeptember this year at 2.3 million sq ft. However, new supply saw a yearonyear decline of 63 per cent at 1.9 million sq ft. "There is now a regained confidence amongst developers to pay heed to this sector as investors show greater commitment towards it," C&W said, adding that an estimated Rs 7,959 crore has been invested by private equity funds in malls since 2016. "With the estimated ...