Retail leasing sector was undoubtedly the most affected one because of the Covid induced disruption, and many experts wrote an obituary of brick-and-mortar retail facing the onslaught of online shopping. However, the first 9 months have put to rest all these apprehensions as Retail leasing rises by 114% YoY, crossing 3.4 mn sq ft during this period. This is as per the CBRE’s India Market Monitor report for Q3, 2022.
Noida is a well planned town with excellent civic infrastructure. It also provides businesses a gateway to the most populous state of India. A stable government in state has shown an alacrity to grow the economy, and sensing the opportunity in Noida-Greater Noida region, has announced a slew of projects here. Jewar airport, which will be the largest in India is expected to start operation in 2024 and will provide the needed impetus to commercial activities in the region.
Traditionally, the decision making in commercial real estate leasing has been based upon intuition, and retrospective data. But most of such decisions have been sub-optimal and have shown human bias. Today, a host of new variables make it possible to paint more complete pictures of a location’s future potential and risks. Additionally, the specific data-points also help to make critical leasing decisions by identifying the best-fit tenants through data analytics.
What are the recent trends in commercial leasing post covid (e.g., restaurants and warehouses leasing)?
The commercial real estate leasing, however, has experienced some marked changes post Covid. While the impact of these changes have been different in different sectors, there are a few trends visible across the sectors.