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Ahmedabad MarketBeat Reports

25/04/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: In Q1 of 2022, Ahmedabad office market recorded a net absorption of 0.28 msf and a 60% increase in gross leasing volume. Leading the rise in gross leasing were flex space operators, followed by the healthcare and pharma sector, contributing 16%. Budget and I-T policy announcements helped give the office segment a head start in 2022.

Residential: In the first quarter of 2022, Ahmedabad witnessed a rise of 37% q-o-q basis, along with 28% growth y-o-y. New launches in this quarter were dominated by the affordable segment, which contributed 24%, while high-end & luxury dipped to 15%, compared to an average of 23% from the previous two quarters. West Peripheral market remains a popular choice for homeowners due to excellent connectivity and infrastructure.

Retail: A healthy leasing activity was seen in Ahmedabad as Q1 2022 carries the momentum of the previous quarter. Overall mall vacancy was recorded at 23%, rising by 400 bps on a q-o-q basis with an addition of 0.2 msf in this quarter. The majority of leasing activity was concentrated in premium malls and was dominated by fashion, lifestyle & supermarkets. The demand for superior grade malls in Ahmedabad has attracted Lulu Group to become the third-largest retail group to venture into the city.

Learn more by clicking our most recent Ahmedabad MarketBeat reports below.

CURRENT MARKETBEAT

Office Buildings CBD
Ahmedabad Office Report

Ahmedabad office gets a head start in Q1 of 2022 with gross leasing volume rising by 60% from the previous quarter. This start was led by flex spaces contributing to 52% in gross leasing followed by healthcare and pharma.

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Shopping Retail
Ahmedabad Retail Report

The primary drivers in Ahmedabad retail sector have been fashion, hypermarkets, and CDIT categories, with the backing of positive consumer sentiments they are opening multiple stores across the city. GIFT city is expected to attract retail occupiers to serve the requirement in the submarket in the mid-to-long term.

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Warehouse Internal Rack
Ahmedabad Residential Report

The West Peripheral submarkets accounted for a majority of new launches at 47% in Q1 2022, while 75% of these launches were in the mid-segment category. The North Peripheral submarket accounted for 19%, and the East Peripheral market attracted a mere 11%. The West Peripheral market promises to change the city’s skyline, owing to the permission granted for high-rise residential towers.

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Warehouse Internal Rack
India Investment Report

Besides the slow rate of growth at 5.4% y-o-y, the Indian economy remained the fastest-growing major economy globally in Q1 2022. This quarter also recorded a private equity investment of INR 57.9 bn., a decline of 38.4% q-o-q but with a promise of picking up pace in coming quarters.

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Warehouse Internal Rack
Ahmedabad Industrial Report

Warehouse leasing picked up momentum in Ahmedabad in the second half of 2021 as compared to subdued leasing activity in H1 2020. E-commerce and Consumer electronics were the major sectors driving the demand in H2. Although the Changodar-Bavla corridor continues to remain the preferred market for manufacturing occupiers, leasing activity in H2 was spread across all submarkets evenly.

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