Khan Market ranks 22nd on Cushman & Wakefield’s global list of the most expensive retail locations. With an annual rent of $229 per square foot (approximately ₹19,330), it retains its position as India’s most premium high-street shopping destination.
Khan Market ranks 22nd in global retail list
Delhi’s iconic Khan Market stands out as a top performer in Cushman & Wakefield’s “Main Streets Across The World 2024” report. This flagship report evaluates retail rents across 138 high-street locations globally. Khan Market, with a 7% year-on-year rental growth, continues to represent India on the international stage.
Why Khan Market ranks 22nd globally
Known for its mix of premium brands and upscale boutiques, Khan Market attracts affluent shoppers. The limited availability of retail space creates high demand, driving up rental values. Retailers vie for a spot in this exclusive market, showcasing its global appeal and resilience.
Khan Market: India’s retail crown jewel
Khan Market isn’t just a shopping destination; it’s a reflection of India’s retail sector’s strength. As Saurabh Shatdal, Managing Director at Cushman & Wakefield, stated, its presence in the global rankings underscores the vitality of India’s retail industry. The country’s main streets are thriving due to supply constraints in malls and robust demand.
Global rankings highlight Khan Market’s status
Globally, Milan’s Via Monte Napoleone has overtaken New York’s Upper 5th Avenue as the most expensive retail location, with annual rents of $2,047 per square foot. While Khan Market ranks 22nd, its rental growth reflects the strong performance of India’s economy.
India’s retail sector continues to grow
India’s retail landscape remains promising. High streets like Indiranagar in Bengaluru and MG Road in Pune are also witnessing significant rental growth. As economic conditions remain robust, locations like Khan Market will play a pivotal role in India’s retail success story.
Khan Market’s global prestige reflects India’s growth
Khan Market’s rank as the 22nd most expensive retail location globally underscores its enduring appeal and the strength of India’s retail sector. Its consistent performance highlights the country’s growing economic influence and evolving consumer preferences. As India’s retail industry continues to thrive, Khan Market stands as a testament to the nation’s potential on the global stage.
