Amidst real estate boom in 2023, retail real estate presents impressive numbers, with total retail stock touching 49.6 msf. Overall, Grade A mall stock in terms of GLA, increased by 2,7% in H1CY23 over H1CY22. Gross leasing in H1CY23 has reached 56% of CY22, demonstrating a significant comeback in retail real estate. Vacancy levels have declined sharply due to robust leasing on the back of aggressive expansion plans of retailers, coupled with limited availability of quality retail spaces.
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