03 January 2023, Mumbai
Sixty malls are lined up to become operational in seven Indian cities between 2023 and 2025.
Mumbai, the financial capital of the country, will have only ten per cent of this new retail space. The other malls will come up at Bangalore, Pune, Hyderabad, Kolkata, Chennai, and the National Capital Region. Delhi NCR and Bangalore will account for the major part with a 53 per cent share in the upcoming supply. Hyderabad will get about 17 per cent of the new retail space, compared to ten per cent each in Mumbai and Pune. Chennai and Kolkata will have six per cent and four per cent of the 23.25 million sqft of area respectively.
In 2023 alone as many as 25 malls are set to be launched across the top seven cities of India.Leasing demand for sectors such as food and beverage, electronics, jewellery, athleisure, casual clothing, formal wear, accessories, and beauty and cosmetics is increasing.
The introduction of new entertainment categories and the removal of Covid-related limitations led to the entertainment category, including multiplexes, enjoying a robust comeback in business beginning in March 2022.
There has been a churning of brands and categories in existing shopping malls to help keep up with changing customer demands and accommodate newer global businesses.
