Five new malls in Q1 indicative of retail resurgence: JLL

Fashion and apparel remained the dominant retail category, accounting for 31% of leasing activity in Q1 2025. Domestic retailers led retail space take-up with an 86% share.

Bengaluru: The January to March quarter (Q1) of 2025 was the best performing opening quarter for Indian retail in the past three years, noted JLL in a report out on Friday. On the supply front, five new shopping malls totalling 2 msf became operational in Q1 2025, already surpassing the entire annual supply of 2024.

An additional 7 msf of new Grade A shopping mall supply is expected in the remaining three quarters of 2025.

As for leasing, the sector saw a 169 per cent year-on-year growth in Q1 2025, with 3.1 million square feet (msf) being leased across the top seven cities. Bengaluru and Hyderabad accounted for 60 per cent of the overall India leasing activity.

The organised retail stock across the top seven cities reached 88.5 msf at the end of Q1 2025. Fashion and apparel remained the dominant retail category, accounting for 31 per cent of leasing activity in Q1 2025. Domestic retailers led retail space take-up with an 86 per cent share.