India 2nd in Retail Real Estate Investment Romentum Index

India 2nd in Retail Real Estate
Investment Momentum Index

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India ranks second among top 20 countries with the strongest
momentum in retail real estate index and it lags behind China
due to weaker investment prospects and a smaller presence
of global retailer, according to a report by global property
consultant Jones Lang LaSalle.


"Our Retail Real Estate Momentum Index identifies 20
markets with the strongest retail real estate momentum. In
top positions are China, India, Indonesia, Turkey, Brazil and
Vietnam," JLL said in its report released today.


The index aims to identify those countries with the strongest
momentum in terms of consumer, retailer, 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.


However, the consultant observed that "India falls short of
China due to weaker real estate investment momentum and a
smaller international retailer presence".


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.


Although, India has permitted 100 per cent FDI in single
brand, it is yet to allow FDI in multi-brand retail.


The report said "...from a retail investment point of view, it is
still unlikely that India will see a boom in foreign investment
in the short to medium term."


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."


"We are able to track these positive market modifications by
the way in which demand for retail real estate is changing in
India. There is a clear thrust towards international
benchmarks, with growing market knowledge and ever-
increasing aspirations driving current and future growth," he
added.


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)".


The report confirms that in the last decade, more than USD
one trillion of retail real estate has been traded around the
world. Global direct investment has averaged more than USD
100 billion per year since 2004 and in 2011 annual volumes
hit USD 122.5 billion.


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India 2nd in Retail Real Estate Investment Romentum Index

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India 2nd in Retail Real Estate Investment Romentum Index