INDIA’S retail sector has shifted its focus to malls again as leasing of high streets witnessed a 26 per cent quarter-on-quarter decline in the second quarter of 2025.
According to the latest report by Cushman & Wakefield Malls accounted for 45 per cent of leasing volume in Q2 (1.01 MSF) — a 42 per cent q-o-q rise, and the highest mall share in the past five quarters, signalling growing interest in experience-driven, structured retail formats.
However, even after witnessing a dip in the leasing activities, high streets continued to dominate with 55 per cent (1.23 MSF) of the market, underscoring the persistent undersupply of quality mall stock across cities. According to the ‘Q2-2025 Retail Market Beat Report’, no new mall supply was added in Q2, and Grade A mall completions for H1 2025 stood at 1.3 million square feet. As a result, mall vacancy levels dropped by around 77 basis points to 8.16 per cent in Q2 2025, with premium Grade-A+ or superior malls witnessing even tighter vacancies at just 4.28 per cent. This highlights the growing demand for premium retail assets and further strengthens landlord leverage in prime locations.
ANI
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