HYDERABAD: With nearly 4,00,000 square feet of commercial spaces leased across the malls and streets in Hyderabad in the third quarter of the current year, the city has registered a staggering growth of 81.8 per cent over the previous quarter.
According to Cushman & Wakefield, leasing in the city was primarily driven by a new mall commencing its operations in Kukatpally and a few standalone projects starting their operations at prime high streets across residential locations such as Chanda Nagar, Manikonda, Khajaguda, and LB Nagar.
The new Ashoka Golden Mall in Kukatpally had a gross leasable area of nearly 3,00,000 square feet.
Retail leasing on main streets accounted for 69 per cent of the leasing activity in Q3, registering a rise of 55.9% over the previous quarter.
The growth was attributed to the expansion of popular Hyderabad-based retailers such as Kalamandir, Neeru’s, Cafe Niloufer, Narsing, Paradise, and others. Besides that, malls such as Sarath City, L&T Malls, DSL, and Ashoka Golden Mall witnessed good traction in Q3, accounting for 31% of the total leasing activity.