Delhi-NCR retail leasing rose 45% in Q1, resurfacing a January 2026 report on fashion and F&B demand

Resurfacing a Cushman & Wakefield report from Q1 2026: Delhi-NCR retail leasing reached 0.59 million sq ft, up 45% year on year. Malls accounted for 64% of leasing as brands pursued limited organised retail space; Delhi-NCR represented 30% of activity across the top eight cities.

— FiledSun, 13 Sept, 2026, 07:48 IST·First seen Sun, 13 Sept, 2026, 07:47 IST·Source Financial Express (via Wayback)

What happened

Cushman & Wakefield · Delhi-NCR retail leasing rose 45% year-on-year to 0.59 million sq ft in Q1 2026, led by fashion and F&B demand. Malls accounted for 64% of

Key facts

  • Delhi-NCR Q1 2026 retail leasing: 0.59 million sq ft (nearly 6 lakh sq ft)
  • Delhi-NCR leasing growth: 45% year-on-year
  • Q1 2025 Delhi-NCR leasing: 0.41 million sq ft
  • Shopping malls' share: 64%
  • High streets' share: 36%
  • Delhi-NCR share of top-eight-city leasing: 30%
  • Top-eight-city Q1 2026 leasing: 1.95 million sq ft
  • Top-eight-city leasing decline: 10% year-on-year
  • Top-eight-city Q1 2025 leasing: 2.17 million sq ft
  • Top-eight-city calendar 2025 leasing: 9.21 million sq ft

Why this matters

With Delhi-NCR contributing 30% of top-eight-city leasing and organised supply constrained, partnerships, acquisitions, or mixed-use development opportunities could offer faster access to strategic retail locations.

What to watch

  • Q2-Q3 2026 Delhi-NCR leasing volumes and mall-versus-high-street share.
  • Prime mall rent growth, vacancy rates and renewal spreads.
  • New mall supply, redevelopment openings and delayed project completions.
  • Fashion and F&B same-store sales, store-opening guidance and consumer discretionary spending.
  • Whether leasing demand broadens to electronics, home, luxury and entertainment categories.
  • Fashion and F&B chains accelerate Delhi-NCR expansion and renewals before prime inventory tightens further.
  • Mall owners re-tenant toward experiential dining, beauty, athleisure and premium international brands.
  • Retailers negotiate revenue-share, fit-out support and longer rent-free periods despite higher headline rents.
  • Developers advance mall redevelopment and mixed-use retail projects in high-income NCR catchments.