Report
India’s tier-2 cities add over three times as much Grade A shopping-center space as tier-1 cities since 2020
The Economic Times reports that high rents and scarce prime locations are making retail expansion harder in India’s biggest cities.
TLDR
The Economic Times, citing a Knight Frank and CII report, says tier-2 cities added 5.9 million square feet of Grade A shopping-center space since 2020, compared with about 1.9 million in tier-1 cities. Retailers are finding more room to expand in smaller markets, but are not abandoning metros: Lifestyle’s CEO says more than 80% of its revenue still comes from metro and tier-1 markets.
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