Los Angeles-based property consultant CBRE expects the supply of retail space for luxury brands in India to double in the next three to four years. Vivek Kaul, head of retail services India, CBRE South Asia said, “The existing stock of luxury retail space in the country is approximately a million square feet; while around two million square feet is expected to be built up in the next three-four years.”
The Economic Times notes that companies such as DLF, Reliance Industries, Phoenix Mills, the Mumbai-based Maker Group, and Shobha Developers have plans to create additional commercial buildings for retailers in Delhi, Mumbai, Chennai and Bangalore.
