JLL report predicts 44% of retail growth in North India's Tier II/III cities over five years, driven by demand, land, and retail shortage.
A JLL report forecasts that North India will capture 44% of retail growth in Tier II and III cities over the next five years, equating to 25 million sq. ft. This increase is fueled by consumer demand, land availability, and a shortage of quality retail options. Key cities like Ludhiana, Jaipur, and Lucknow are at the forefront, with new malls averaging 375,000 sq. ft. and institutional investors showing increased interest in these markets.
October 07, 2024
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