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Hindustan Times
24-07-2025
- Business
- Hindustan Times
Retail leasing slips 6% to 2.24 mn sq ft across top 8 cities in Q2 2025: C&W
Around 2.24 million sq ft of retail space was leased across malls and high streets in India's top eight cities during April–June 2025, reflecting a 6% year-on-year dip from 2.39 million sq ft in the same period last year, according to Cushman & Wakefield's Q2 2025 Retail Market Beat report. Around 2.24 million sq ft of retail space was leased across malls and high streets in India's top eight cities during April–June 2025, a report by C&W has said (Photo for representational purposes only)(Pixabay) The report noted that no new mall supply was added in Q2, while Grade A mall completions for H1 2025 stood at 1.3 million sq ft. Consequently, mall vacancy levels declined by around 77 basis points to 8.16% in Q2 2025, contributing to the overall drop in available space. The figure also reflects a 5.4% drop compared to the previous quarter but remains consistent with the average leasing volume seen over the past four quarters, it said. Despite the quarterly dip, H1 2025 leasing volumes stood at 4.61 million sq ft, up 17% year-on-year, signaling strong retailer confidence amid steady consumer demand, it said. Among cities, Hyderabad (0.76 mn sq ft), Mumbai (0.52 mn sq ft), and Delhi-NCR (0.3 mn sq ft) led the market, together accounting for over 70% of total leasing activity in Q2. They were followed by Pune (0.23 mn sq ft), Bengaluru (0.18 mn sq ft), Chennai (0.16 mn sq ft), Kolkata (0.05 mn sq ft), and Ahmedabad (0.04 mn sq ft). In terms of growth, Mumbai and Pune saw leasing volumes rise by 1.6x and 1.5x, respectively, compared to Q2 2024, highlighting strong traction in western markets. Malls accounted for 45% of leasing volume in Q2 (1.01 mn sq ft), a 42% q-o-q rise, and the highest mall share in the past five quarters, signaling growing interest in experience-driven, structured retail formats. High streets witnessed a 26% q-o-q dip in retail leasing High streets witnessed a 26% q-o-q decline, although they continued to dominate with 55% (1.23 mn sq ft) of leasing activity, underscoring the persistent undersupply of quality mall stock across cities. Also Read: DLF to open largest mall in Goa, launch neighbourhood plazas in West Delhi and Gurugram in FY26 Having said that, rentals in key high streets such as Khan Market and Connaught Place have not been impacted. The market continues to remain tight, primarily because mall vacancies are extremely low across cities. With limited Grade-A mall supply, retailers have little choice but to explore and commit to high street locations, which keeps the rental levels up in these consistently high-performing high streets, the CW analysis said. Mall completions No new mall supply was added in Q2, and Grade A mall completions for H1 2025 stood at 1.3 million square feet. As a result, mall vacancy levels dropped by around 77 basis points to 8.16% in Q2 2025, with premium Grade-A+ or superior malls witnessing even tighter vacancies at just 4.28%, the report noted. Average main street rents remained stable on a q-o-q basis, while recording a healthy 6% y-o-y rise, it said. 'India's retail sector continues to demonstrate strong momentum, with consistent growth in leasing volumes pointing to a healthy underlying demand. High streets remain the dominant driver of activity, while vacancy levels in Grade-A malls have tightened further, reflecting a clear and growing preference for high-quality and experience-led retail spaces. Looking ahead, we remain optimistic,' said Suvishesh Valsan, Head, Research India at Cushman & Wakefield. Nearly 4 mn sq ft of new Grade A supply is expected in the second half of the year, particularly across key metros such as Mumbai, Delhi-NCR, and Hyderabad. The upcoming supply is expected across Delhi-NCR: West Delhi and Gurgaon; Hyderabad: North-West Hyderabad; Mumbai: Eastern suburbs and South Mumbai, it said. There was a growing interest from international brands and the sharp uptick in leasing across categories like wellness and grocery, both of which signal a broader shift in India's consumption landscape. As new supply comes online, we expect leasing momentum to further accelerate, particularly in top-tier urban markets, he said. Food and beverage and fashion brands take up 50% share of retail space In terms of category demand, food and beverage and fashion remained the primary space takers across both mall and high street formats in Q2 2025, accounting for more than 50% share of leasing activity (1.17 mn sq ft), reflecting consumers' growing preference for lifestyle-driven retail and experiential offerings. The wellness category also posted strong growth, capturing 8% share of the leasing volume at 0.18 mn sq ft - a 2x y-o-y increase and a marginal 13% q-o-q dip. Also Read: Delhi's Connaught Place sees 14% increase in rent for retail spaces, Khan Market 7% in Jan-Mar: C&W Meanwhile, supermarkets and hypermarkets clocked 3x q-o-q growth and 10% y-o-y increase in leasing volume reaching 0.18 mn sq ft, reflecting robust demand for daily essentials and convenience-driven retail formats, the report noted.
Express Tribune
23-07-2025
- Health
- Express Tribune
Gandapur opens K-P's first food laboratory
In a landmark development for food safety and public health, Khyber-Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur on Wednesday inaugurated the province's first Provincial Food Testing Laboratory and Centre for Research in Hayatabad, Peshawar. The cutting-edge facility, constructed at a cost of Rs905 million under the Khyber-Pakhtunkhwa Food Safety and Halal Food Authority (KPFS&HFA), is built to international ISO standards and aims to transform food testing and regulation across the province. Food Minister Zahir Shah Toru, Advisor to CM for Relief Naik Muhammad, Secretary Food, Secretary C&W, DG Food Authority Wasif Saeed, and other senior officials were present at the inauguration ceremony. The laboratory houses eight specialized units under a single roof and is backed by a centralized Management Information System (MIS) and a digital traceability system. These features are designed to enhance transparency, speed up lab result access, and facilitate data-driven decision-making for both consumers and businesses. According to Food Minister Zahir Shah Toru, the lab can analyze over 1,500 parameters in 100 different food and beverage categories. "This is a game-changer for the province. It ends our reliance on other provinces and private labs. With this facility, we can directly enhance the quality of food our people consume," he said. The facility is not only a testing center but also a hub for research, development, and policy guidance. Integrated with KPFS&HFA's operational teams in over 20 districts, the lab will process field samples efficiently and securely, ensuring quick turnaround on results. The lab's extensive scope includes microbiological analysis to detect harmful pathogens such as Salmonella, E coli, and Listeria, chemical analysis to detect adulterants and toxins like aflatoxins and formalin, as well as nutritional profiling for fat, protein, moisture, ash, and caloric content. It also supports Halal certification and meat speciation to detect non-permissible species such as pork, donkey, or dog meat. Advanced services include identifying antibiotic residues in meat and milk, heavy metals in water, and pesticide levels in fruits and vegetables. Equipped with advanced technology like GC-MS, AAS, ICP-OES, HPLC, UHPLC, and FTIR, the lab is on par with global standards. Director General KPFS&HFA Wasif Saeed praised the provincial leadership's commitment, stating, "The successful and timely completion of this laboratory reflects our government's dedication to ensuring safe, healthy, and halal food for all residents of K-P." This facility is expected to foster interdepartmental coordination with sectors like Public Health, Agriculture, Environment, and Livestock, contributing to preventive healthcare and environmental safety while setting a new benchmark for food quality regulation in Pakistan.
Express Tribune
19-07-2025
- Express Tribune
HCs can't entertain factual inquiry: SC
The Supreme Court has stated that a high court, while exercising jurisdiction under Article 199 of the Constitution, cannot entertain matters requiring factual inquiry. "It is the prerogative and privilege of the trial court to examine such controversies so as to be disposed of on merit after taking into consideration the evidence led by the parties," said a five-page verdict authored by Justice Shakeel Ahmad. Justice Ahmed was part of a three-member bench — led by Chief Justice of Pakistan (CJP) Yahya Afridi — which heard pleas filed against an order of the Balochistan High Court (BHC) with regard to partial payment of the security amount paid by a contractor who built the BHC building in 1986. The Government of Balochistan's Construction and Works (C&W) Department had blacklisted the contractor in July 1991 on account of unsatisfactory performance and forfeited his security. The contractor filed a suit in a trial court which issued a judgment and a decree on May 4, 2006. However, due to failure on the part of the C & W department to release the security amount to him, he filed an application before the executing court for implementation of judgment of the trial court. The executing court dismissed the execution application on May 20, 2009, declaring that there is no mention of release of the security amount in favour of the contractor in the trial court order. The contractor filed a civil miscellaneous appeal to the BHC, which converted the appeal into a constitution petition and issued notice to the C&W department, directing it to submit details of the amount allegedly paid to the contractor. After making factual inquiry in this regard, the court on September 7, 2017 partly allowed the petition, directing the C&W Department to pay Rs20,12,668 to the legal heirs of the contractor — who had died by then — out of security amount within a period of thirty days. The legal heirs of the contractor were of the view that they were entitled to the total security amount — Rs68,67,668. Hence, they filed a civil petition in the Supreme Court. The C&W department was also unhappy with the BHC judgment and also filed a civil petition. The SC in its verdict noted that clause set out in the plaint reflected that the petitioner had not made any prayer for release of security amount. The C&W department also objected to the BHC order for release of the security amount, stating that it had already released the security to the contractor. It noted that the high court decided to get the matter examined by summoning official records and carrying out a full-fledged inquiry in presence of the parties. It said this exercise could not have been done in writ jurisdiction. "The scope and ambit of the proceedings before the high court, in the instant case, was limited to the extent of judgment and decree of the trial court and the order dated May 20, 2009, passed by the executing court, dismissing the execution application on the ground that the claim for recovery of the security amount mentioned in execution application was not decreed in favour of the contractor. "The high court has not attended to any of the above stated prayers and the judgment and decree passed by the trial court, and order of the executing court, and proceeded to decide the case after making a detailed inquiry. "Thus, in our view, the high court exceeded in its authority by passing the impugned judgment, calling for interference. In our view, the factual controversy raised by the parties can only be resolved after recording pro and contra evidence through a civil suit," it added. "[Therefore] the BHC judgment is set aside. The civil petition filed by the legal heirs of the contractor, seeking release of remaining security amount is dismissed and leave refused. "[The petitioners may] seek relief from the appropriate forum, if so advised, subject to all just and legal objections from the other side. No order as to costs," the order said.
Business Recorder
09-07-2025
- Business
- Business Recorder
CM inaugurates mega projects worth Rs8.77bn in Pindi
LAHORE: Chief Minister Punjab Maryam Nawaz Sharif inaugurated mega projects worth Rs 8.77 billion in Rawalpindi. She formally inaugurated the Adiala Road Nawaz Sharif Flyover and the Mall Road GPO Chowk Underpass projects. These two mega projects being built to ensure smooth traffic flow in Rawalpindi city were completed in a record time by maintaining high construction standards. The people showered flower petals on the arrival of Chief Minister Maryam Nawaz Sharif at the inauguration venue She responded to their slogans by waving her hands. Provincial Minister for C&W Malik Sohaib Bherth and Secretary C&W Sohail Ashraf gave a detailed briefing on the development projects. The chief minister was informed in the briefing that 67 road projects stretching up to 607 kilometers have been launched in Rawalpindi, out of which 51 road projects have been completed. Approximately 3 lakh vehicles will pass through the Nawaz Sharif Flyover and GPO Underpass projects on a daily basis. The Nawaz Sharif flyover, which starts from Kutchery Chowk on Adiala Road, will benefit traffic passing through GT Road Ring Road and Chakri Interchange Motorway. The public will save more than an hour of time and millions of rupees in petrol and other expenses by traveling at Nawaz Sharif Interchange. It was further apprised in the briefing that the traffic of Gorakhpur, Adiala, Khalsa Khurd, Khalsa Kalan, Dhalan, Jarrar Camp, Dhok Awan, Singral and inhabitants of other localities will benefit from the Nawaz Sharif flyover project. A two-kilometer service road has also been constructed around the Nawaz Sharif flyover project. More than two lakh vehicles will pass through the GPO Chowk, TM Chowk signal-free corridor on the Rawalpindi Mall Road daily. The briefing informed that AFIC is included in the underpass project for the convenience of pedestrians. For the first time, the latest intelligent signal systems have been installed in the GPO underpass project. Nearly two-kilometer-long underpass to be built on Mall Road will provide easy access to the National Highway N-5 through Kashmir Road. It was further apprised in the briefing that GPO Chowk underpass will also facilitate millions of patients coming to CMH, MH and AFIC daily. The GPO Chowk underpass will also facilitate traffic passing through Saddar Bazaar, Railway Station and other areas. The chief minister highlighted, 'All development projects built for the convenience of the people are our foremost priority. Remodeling of Kutchery Road and Mall Road will also be carried out. The construction of the underpass and flyover projects will prove to be a game changer for the residents of Rawalpindi.' She outlined, 'The launching of public welfare projects will prove to be historic and memorable for the people of Rawalpindi. I highly commend the efforts of all relevant institutions for the completion of development projects in a record time frame being built for the convenience of general public in Rawalpindi.' Copyright Business Recorder, 2025
Hindustan Times
03-06-2025
- Business
- Hindustan Times
Mumbai ranks 6th globally in under-construction data centre capacity, surpassing London and Dublin: Report
Mumbai has secured the 6th spot among 97 global cities in terms of under-construction data centre capacity, overtaking major hubs like London and Dublin, according to a report by Cushman & Wakefield. The report also highlights Pune and Bengaluru, which rank 4th and 5th respectively among Asia-Pacific's emerging data centre hubs. Apart from its global ranking, Mumbai ranks as the 7th established data center market in the Asia Pacific region. At the end of 2024 the city had 335 MW of data center capacity under construction, which, once completed, will expand its operational capacity by 62%. The report covers 97 global markets, highlights power access, land availability, and infrastructure as key factors shaping data center development. Virginia is in first position with 1,834 MW data centre capacity under construction, followed by Atlanta (1,078 MW), Columbus (546 MW), Dallas (500 MW) and Phoenix (478 MW). "At the end of 2024, the city had 335 MW of data centre capacity under construction, which, once completed, will expand its operational capacity by 62 per cent," real estate consultant Cushman & Wakefield (C&W) said. Austin/San Antonio ranks 7th (325MW), Reno 8th (305MW), London 9th (265MW) and Dublin (249 MW), according to C&W's latest 'Global Data Center Market Comparison' report 2025. Mumbai accounts for 42% of India's projected under construction capacity underscoring its growing prominence as a regional data center hub. The data centre growth is further supported by digital infrastructure upgrades in the city. According to the Cushman & Wakefield India Outlook Report, 2025 may witness the completion of three crucial undersea data cable projects landing in Mumbai. Ranked 4th among APAC's top emerging data center markets in Cushman & Wakefield's Global Data Center Market Comparison 2025, Pune is rapidly becoming a preferred destination for hyperscalers and enterprise-grade colocation facilities. As of Q1 2025, Pune's operational data center stock stands at 112 IT MW Global Data Center markets are seeing surging demand due to relentless growth and expansion of cloud computing and Artificial Intelligence workloads according to the latest report by Cushman & Wakefield, Global Data Center Market Comparison 2025. The data center industry experienced significant growth in 2024, Asia Pacific cities continue to demonstrate strong growth momentum, 10 of the world's 30 largest data center markets are now in the Asia Pacific region. The report highlights that Asia Pacific ended 2024 with 1.6 GW of new capacity coming online, bringing the region's total operational data center capacity to 12.2 GW. The development pipeline remains strong, with an additional 14.4 GW of capacity currently under construction or planned. 'India's data center landscape is undergoing a strategic shift. Mumbai has firmly positioned itself among the top global markets, while Pune is emerging as a key data center hub in the APAC region. India's data center sector has attracted prominent international operators and investors, even as domestic players continue to expand capacity,' said Gautam Saraf, executive managing director, Mumbai and New Business, India, Cushman & Wakefield.
