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New Delhi, Apr 15 (PTI) Nearly 20 premium shopping malls, comprising 123 lakh square feet of retail spaces, will become operational by 2026-end across eight major cities in the country to tap rising demand of retailers looking to expand business, according to Cushman & Wakefield. On Tuesday, real estate consultant Cushman & Wakefield released its report 'Premiumisation of India's Retail Sector - Upscaling, Upgrading and Evolving', at MAPIC India Summit here. The consultant noted that as many as 19 Grade A shopping malls covering 12.
3 million (123 lakh) square feet of new retail space will become operational in 2025 and 2026 calendar years. These eight cities are-- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad. Out of the 12.
3 million square feet of new Grade A mall supply projected across 2025 and 2026, 8.6 million (86 lakh) square feet will be superior Grade (Grade A-plus), underscoring the sector's shift from scale to quality. The superior-grade malls typically owned and operated by reputed developers or institutional investors are characterized by their high occupancy rates (more than 85 per cent), upscale tenant mix, and service-rich environments.
Saurabh Shatdal, Executive Managing Director, Capital Markets & Head, Retail India, Cushman & Wakefield, said, "India's retail landscape is evolving rapidly, and so are consumer aspirations. The rise of Superior Grade malls reflects a clear pivot from just scale to quality and experience. Today's consumers are seeking curated, design-led environments where the brand experience is as important as the product itself.
Shatdal noted that categories like beauty, wellness, F&B, and athleisure, known for high engagement and trading density, are shaping this next phase of retail. "The response from developers and brands shows a deep shift in strategy: toward sophisticated, digitally integrated, and future-ready retail formats that truly resonate with the country's aspirational consumers," he added. India's total Grade A mall stock stood at 61.
5 million (615 lakh) sq ft in 2024, with superior Grade malls already comprising 63 per cent (38.9 million sq ft) of the total. (This story has not been edited by THE WEEK and is auto-generated from PTI).
