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Real estate consultant Cushman & Wakefield reports that nearly 20 premium shopping malls, offering 12.3 million square feet of retail space, will be operational across eight major cities by the end of 2026. These malls aim to meet the increasing demand from retailers seeking expansion opportunities. Out of the total, 8.6 million square feet will be superior Grade A-plus malls, reflecting a shift towards quality and experience-driven retail environments. The growth will be concentrated in cities like Delhi-NCR, Mumbai, and Bengaluru, and reflects an evolving retail landscape focused on curated consumer experiences.
According to a recent report by Cushman & Wakefield, nearly 20 premium shopping malls spanning 12.3 million square feet will become operational across eight major cities by the end of 2026. This expansion is driven by increasing demand from retailers looking to expand their presence in India's evolving retail landscape. The new malls will be concentrated in cities like Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad. Advertisement
Cushman & Wakefield's report, titled 'Premiumisation of India's Retail Sector - Upscaling, Upgrading and Evolving', released at the MAPIC India Summit, highlights that of the total 12.3 million square feet of retail space, 8.6 million square feet will be part of superior Grade A-plus malls. These malls are expected to offer high-quality experiences with upscale tenant mixes and high occupancy rates, which typically exceed 85 percent.
Saurabh Shatdal, Executive Managing Director at Cushman & Wakefield, explained that India's retail sector is undergoing a rapid transformation. He noted that this shift towards superior Grade malls signifies a move away from focusing solely on scale to prioritizing quality and experience. Today's consumers, he said, are looking for design-led environments that emphasize the brand experience as much as the products themselves.
The report also identified key retail segments like beauty, wellness, food and beverage (F&B), and athleisure as major contributors to this evolving retail scene. These categories, known for their high engagement levels and trading density, are expected to play a pivotal role in the growth of the sector. Shatdal further added that both developers and brands are embracing more sophisticated, digitally integrated, and future-ready retail formats to cater to India's aspirational consumer base.
As of 2024, India's total Grade A mall stock stood at 61.5 million square feet, with superior Grade malls already accounting for 63 percent of the total. This shift reflects the increasing emphasis on premium retail experiences that blend both luxury and functionality.
India's retail sector is entering an exciting phase with nearly 20 premium malls set to open across its top cities by the end of 2026. As retailers seek expansion opportunities, the shift towards superior Grade A-plus malls highlights a broader trend of quality-driven retail environments. This change reflects evolving consumer preferences, which now prioritize experiences as much as products. With a focus on digitally integrated and future-ready retail formats, India is positioned to cater to the demands of its growing aspirational consumer base.
Source: PTI
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