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Construction : Real Estate | August 2013 | Source : Construction Update

Bangalore witnesses growth in commercial real estate

As several global and domestic retailers occupying space in medium and large malls in Bangalore, the city has witnessed growth in leasing activity in the first half of this calendar year. Commercial real estate services firm CBRE says in its report that 1.2 million sq ft of organised retail space will be released by the first half of 2014, with the expected completion of three malls in the IT city of India.

CBRE report said that Krispy Kreme, Pink Berry, La Tagliatella, Secret Recipe, Five Star Café, California Burritos, Le Cristal, Fastrack and Marks & Spencer are some of the retailers opened their first outlets in the city.

CBRE has released its 'India Retail Market View H1 2013.' report recently. Rental values in Commercial Street, Brigade Road and Indiranagar declined 7-9 per cent as compared to the second half of 2012 owing to the absence of medium and larger size format stores, while Jayanagar and Kammanahalli/HRBR Layout witnessed rental increment by 6 to 8 per cent.

The report said that fast fashion remained the high growth sector on a pan-India level and major apparel brands from the United States and Europe continued to enter or expand in key markets.

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