India and China are expected to hog the lion's share of real estate investment opportunities linked to the retail sector, which is estimated to reach $180 billion (Rs. 995,000 crore) by 2020, says a report by property consulting firm Jones Lang LaSalle.
The report says 18 other emerging economies are likely to take most of the remaining global retail realty investments.
India is number two on the list, according to the report, which said China would replace the US as the world's largest consumer market attracting around $15 billion annual investment till 2020. The amount that India is likely to attract, was not mentioned.
"There will be a general rebalancing in capital flows towards the Asia Pacific due to favourable demographics and the growth of the middle class. By 2020, Asia Pacific will account for 26% of global retail investment, up from 22% currently and from only 11% in the mid-2000s," the report 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 more business-conducive locations and better business models," said Anuj Puri, chairman and country head, Jones Lang LaSalle India.