logo
Multiple shopping malls to open by 2026 in 7 cities with 16.6mn sq ft space: Anarock

Multiple shopping malls to open by 2026 in 7 cities with 16.6mn sq ft space: Anarock

Time of India13-05-2025

India's seven major cities will witness a fresh supply of 16.6 million (166 lakh) sq ft of prime retail spaces in
shopping malls
by the end of the next year, according to Anarock. Real estate consultant Anarock data shows that over 16.6 million (166 lakh) sq ft of Grade A supply will be added in new shopping malls, likely to open during the 2025 and 2026 calendar years.
Hyderabad and Delhi-NCR will command the lion's share in fresh supply at 65 per cent. The other five cities are Mumbai, Kolkata, Chennai, Bengaluru and Pune.
"The surge is also prompted by a perceivable shortfall in new supply of Grade A malls across cities. The previous three-year data trends show that new mall supply in the top 7 cities did not match the overall leasing," Anuj Kejriwal, CEO & MD of Anarock Retail, said.
In 2022, these seven cities witnessed about 2.6 million (26 lakh) sq ft of new Grade A retail supply, while leasing clocked in at 3.2 million (32 lakh) sq ft.
Likewise, 2023 saw 5.3 million (53 lakh) sq ft of new Grade A mall supply, while 6.5 million (65 lakh) sq ft space was leased.
Live Events
The demand-supply gap widened further in 2024 due to approvals slowing down because of general and state elections.
"New Grade A mall supply in 2024 was just 1.1 million (11 lakh) sq ft, while leasing was 6.5 million (65 lakh) sq ft," said Kejriwal.
While the estimated new supply to some extent raises the spectre of potential oversupply, current absorption trends are reassuring, the consultant said.
Anarock has pegged leasing of retail spaces in malls over the next two years at more than 12.6 million (126 lakh) sq ft across the top 7 cities.
Pacific Group Managing Director Abhishek Bansal said the expansion of retail real estate is also gaining ground in tier II and III cities.
"While metro cities dominate, emerging hubs like Jaipur are gaining traction, highlighting the need for quality retail infrastructure beyond tier I cities to meet evolving consumer and investor demand," Bansal said.
Pacific Group has nine shopping malls, comprising more than 30 lakh sq ft of retail space in Delhi, Ghaziabad, Faridabad, and Dehradun.
"Delhi NCR is expected to emerge as the frontrunner in this expansion, driven by rising consumer demand, improving infrastructure, and changing lifestyle dynamics," Pralayesh Guha, VP-Projects at Trehan Iris, said.
Kirthi Chilukuri, Founder and MD of Stonecraft Group, said, "The rapid expansion of Grade A retail spaces, particularly in Hyderabad, is a clear reflection of the city's growing economic strength and rising consumer confidence. As retail infrastructure becomes more sophisticated, we see an undeniable correlation with premium residential demand."
Angad Bedi, CMD of Bengaluru-based BCD Group, said that homegrown and international brands are expanding their footprint in India, driven by rising consumer demand and a dynamic retail landscape.
Economic Times WhatsApp channel
)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Free run to bumpy ride: Ola Electric faces challenges on road to future
Free run to bumpy ride: Ola Electric faces challenges on road to future

Business Standard

time29 minutes ago

  • Business Standard

Free run to bumpy ride: Ola Electric faces challenges on road to future

Unlike services, Ola's foray into product manufacturing comes with a different set of expectations Peerzada Abrar Bengaluru Listen to This Article In 2021, Bhavish Aggarwal stood on a dusty plot in the Krishnagiri district of Tamil Nadu, and promised to build the world's largest electric two-wheeler factory. Within eight months—and despite the challenges posed by the Covid19 pandemic—that vision became the Ola Futurefactory. The facility, staffed entirely by women and run mainly by robots, aims to have an annual production capacity of 10 million units in future. Backed by SoftBank, Ola Electric quickly became the market leader. Soon after, it made a blockbuster market debut in 2024, its IPO valuing the firm at $4.8 billion. Cut to 2025. Bengaluru-based Ola Electric's

HC nod for Turkish co to take inventory at city airport
HC nod for Turkish co to take inventory at city airport

Time of India

timean hour ago

  • Time of India

HC nod for Turkish co to take inventory at city airport

Chennai: Madras high court has allowed Turkey-based company, Celebi Ground Services, to enter the Chennai airport premises for taking an inventory after getting prior approval from airport authorities. Justice Abdul Quddhose issued an interim order to this effect on Monday, on a petition filed by Celebi Ground Services Chennai Pvt Ltd, challenging cancellation of concession agreement by Airport Authority of India (AAI) following the cancellation of its security clearance by BCAS under ministry of civil aviation on May 26. When the plea came up for hearing, senior advocate P S Raman, representing the company, submitted that it had invested huge amounts of money in its equipment and software and that the AAI was attempting to appoint third parties who would exploit these instruments. The sudden cancellation of the agreement caused a huge financial loss to the company, and it was done due to vendetta, he added. He wanted the court to pass an interim injunction restraining the AAI from creating any third-party rights. Solicitor-general Tushar Mehta, representing AAI, submitted that it was necessary to appoint a third party for smooth functioning of the airport. To this, Raman informed the court that relief was granted by Bombay high court in a similar petition. Opposing the argument, Mehta submitted that the facts of the present case were different from those of the one pending before the Bombay HC. Recording the submissions, the court directed AAI to file counter to the petitions and adjourned hearing to July 7.

Advent to invest $175 million in Felix Pharma to acquire minority stake
Advent to invest $175 million in Felix Pharma to acquire minority stake

The Hindu

timean hour ago

  • The Hindu

Advent to invest $175 million in Felix Pharma to acquire minority stake

Advent, a private equity investor, has announced that funds managed by it have signed a definitive agreement to invest $175 million via primary and secondary capital for a significant minority stake in Dublin, Ireland-based Felix Pharmaceuticals Pvt. Ltd. (Felix), a global Gx animal pharma player. Felix Pharma is one of the developers and manufacturer of off-patent medicines for companion animals. Felix develops, manufactures and supplies to distributors and other branded Gx players for private labelling, particularly in the U.S. Shweta Jalan, Managing Partner, Advent, said, 'Healthcare has been a long-standing focus for us, and strong parallels we see between success in human Gx globally and emerging opportunity in animal health Gx. Felix is well positioned to lead this space with its strong leadership, broad portfolio, and robust R&D and commercial capabilities.' 'Its rapid growth and high customer satisfaction make it a differentiated platform, and we are excited to support Neeraj and the Felix team in scaling it into a global franchise,' she added, Founded in 2015 by Neeraj Agrawal, a McKinsey alum, Sir Jonathan Symonds, Chair of GSK and with 30 years of experience in global pharmaceuticals, and Dr. Shumeet Banerji, ex-CEO of Booz-Allen, Felix said it has pursued strategic growth through a disciplined approach, While the company achieved its first U.S. FDA approval in 2020, it has quickly scaled to a 14 commercialised product portfolio and has several others in advanced stages of pipeline. It has a USFDA-approved oral solid facility dedicated to animal health products and an injectable facility that is expected to be ready by Q3 2025. Neeraj Agrawal, Co-Founder, Felix Pharma, said, 'As we scale in a fast-evolving market, we were looking for a partner who brings not just capital, but also deep operating expertise and the right mindset and networks to help us grow faster and stronger. Advent's strong track record in healthcare and pharma, and their close involvement in building strong businesses, gives us great confidence.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store