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Delhi's Khan Market 24th most expensive retail spot
16
Nov '17
Khan Market in the capital city of India has been recognised as the 24th most expensive retail location in the world, according to a recent report. Continuing to be the costliest to lease a shop in India, the market stood at the 28th position in 2016. A large number of high-end international and local brands have strong presence in Khan Market.

The monthly rentals at the Khan market have been stable at Rs 1,250 per sq.ft since last year, said the 29th edition of the annual Main Streets Across The World report. The report has tracked 451 of the top retail streets around the globe and has ranked the most expensive in 68 countries by prime rental value utilising Cushman & Wakefield’s proprietary data.

With soaring rents, London’s New Bond Street rose to become the world’s third most expensive retail street, while New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay have retained their first and second place rankings, the report stated.

In the Asia-Pacific region, Khan Market stood at the 11th position while Gurugram's DLF Galleria and Mumbai's Linking Road secured 19th and 20th positions, respectively.

"In New Delhi NCR, fashion, F&B and health & beauty and lifestyle retailers have been the most active on the major high streets. Because of the healthy levels of leasing activity, rent showed an increase of 4-5 per cent in the prime main streets of Khan Market and Connaught Place in Delhi and 3-4 per cent in DLF Galleria and Sector 29 in Gurugram this year, even as shopping centre rents remained stable," the report said.

"Despite a lot of negative headlines, global retail remains as dynamic and vibrant as ever in response to technological and demographic change across the world. The most innovative retailers are combining their online and physical platforms to create a seamless omni-channel experience for the customer, but profile and location play such a crucial role in the premium retail experience," said the report author Darren Yates, head of EMEA Retail Research at Cushman & Wakefield. (RR)

Fibre2Fashion News Desk – India


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