India Retail Leasing Sees 2.24 MSF Activity in Q2 2025; Malls Gain Traction as Vacancies Tighten

India’s retail sector leased 2.24 MSF in Q2 2025 with malls regaining ground and vacancy tightening due to limited new supply. Mumbai saw 1.6X YoY growth, while Hyderabad led the leasing charts. A fresh wave of mall completions is expected by year-end.

16.6 Mn Sq. Ft. of New Mall Space by 2026

India’s retail real estate is witnessing a remarkable resurgence with over 16.6 million sq. ft. of new Grade A mall space expected by 2026 across the top 7 cities. With Hyderabad and Delhi-NCR taking the lead, and 60+ global brands entering the market, demand for organized retail spaces is stronger than ever.