India falls short of China due to weaker real estate investment momentum and a smaller international retailer presence and second among top 20 countries with the strongest momentum in retail real estate index according to a report by global property consultant Jones Lang LaSalle.
The index aims to identify those countries with the strongest momentum in terms of consumer, retailer, and developer and investor activity.
China and India, unsurprisingly, top the Index, due to their favourable demographics, rapid urbanisation, strong consumption growth and significant expansion of modern retail infrastructures, it said.
On the future prospects, the report said "India will remain a two-paced market. From a retailer perspective, the country is clearly a key destination and although the retail market is yet to open fully to international retailers, when it does, major international retail groups will expand rapidly across India," JLL said.
Commenting on the report, JLL India Chairman Anuj Puri said: "The Indian retail sector is in a dynamic state of re-invention, with the initial hit-and-miss approach based on perceived absolutes rapidly giving way to superior malls, more business-conducive locations and better business models."
JLL report also projected that "annual investment volumes in retail real estate could hit USD 180 billion globally by 2020 due to increasing cross-border activity, showing growth of around 50 percent on the projected volumes for 2012 (USD 110-125 billion)".
No comments:
Post a Comment