Anticipated Project Openings

The Next Wave of Retail

Across the globe, 2026 will usher in a new wave of retail real estate, with landmark shopping centres and mixed-use districts redefining how we shop, dine and live. This pipeline of projects blends placemaking, luxury and community scale, signalling renewed confidence in bricks-and-mortar destinations and urban regeneration. Over the coming pages, RLI highlights just a sample selection of the schemes that are evolving the market.

As we look ahead to 2026, the global retail real estate landscape is poised for one of its most ambitious rounds of development in recent memory. From new luxury-led districts in Asia and the Middle East to transformative regeneration schemes in Europe and the Americas, this year is shaping up to be a milestone for large-scale shopping, entertainment and mixed-use destinations.

After several years of recalibration in the wake of shifting consumer habits and cautious investment cycles, the sector is emerging with renewed confidence, anchored not only in retail performance, but in placemaking, experiential design and integrated urban living.

At the heart of many of these upcoming openings is a more holistic vision of what a shopping centre or mixed-use scheme should be. Gone are the days when retail alone was expected to shoulder footfall and revenue. Instead, developers are designing environments that blend hospitality, culture, workspace, residential and public realm in ways that foster loyalty and repeat visitation. The result is a new generation of “city within a city” destinations – immersive, flexible and built for a future in which physical spaces must deliver what e-commerce cannot.

Equally notable is the scale and geographic diversity of the projects in the 2026 pipeline. Megaprojects are rising in emerging gateway cities as well as established capitals, driven by infrastructure expansion, tourism strategies and private capital seeking long-term assets. Many of these destinations are being framed not just as commercial hubs, but as catalysts for wider regeneration: stitching together previously fragmented districts, attracting international brands and elevating the civic fabric.

As the countdown to multiple openings begins, attention is shifting to how these projects will perform in a market that continues to evolve. What is certain, however, is that 2026 will introduce a slate of destinations designed to redefine global retail real estate for the decade ahead.

Anticipated Project Openings Around the World

Americas

Oakridge Park, Canada’s largest redevelopment from developers QuadReal Property Group and Westbank, is setting a new standard in Vancouver’s luxury retail scene. As part of this world-class destination, a collection of prestigious global brands will make their debut in spring 2026, transforming the city’s retail landscape and offering an unparalleled shopping experience. The latest brands joining Oakridge Park include Loewe, Loro Piana, Valentino, Dolce&Gabbana, Thom Browne and Acne Studios. Contemporary, beauty and wellness retailers joining the scheme include ALO, Sporting Life, Veronica Beard, Sandro, Maje, Petit Pont, Sisley Paris, Sephora, Diptyque, Lush Brow Bar and Mophead. Returning to the centre are retailers BOSS, Coach and Swarovski. Beyond retail, Oakridge Park will be a multi-faceted destination, defined by experience, culture and community. Spanning 28 acres and over five million square feet, the first phase of the development features four residential towers, office space, a community centre and the largest library on Vancouver’s West Side, a nine-acre park, a one-kilometre running loop and more. Oakridge Park will also enhance Vancouver’s already vibrant culinary scene with Time Out Market – a food and cultural market bringing the best of the city together under one roof – alongside other highly anticipated dining options. The scheme serves as a bespoke and captivating cultural destination for Vancouver and is designed to seamlessly encompass every aspect of people’s lives, where living, working and playing converge harmoniously, offering a space for inspiration, personal growth and relaxation.

What was once a traditional office complex is being transformed into Henderson’s premier lifestyle destination. The Cliff will bring new energy to Henderson, a vibrant destination for dining, retail and connection, where the community can gather, linger and experience something new. The City of Henderson in Nevada has unanimously approved development plans for The Cliff – a $50M, design-forward lifestyle and entertainment destination that reimagines 10 acres of underutilised office space at 2500-2550 Paseo Verde Parkway in Green Valley Ranch. Being developed by Partners Capital and Cast Capital Partners, the 100,000sq ft The Cliff has been dubbed an “anti-mall” – aiming to replace the traditional strip mall and big-box retail model with a walkable, community-centric gathering place. After breaking ground last fall, the site will be home to a Class A, open-air destination that blends next-generation retail, culinary and hospitality experiences, including first-to-market retailers and chef-driven concepts upon opening in the fall of 2026. The Cliff replaces outdated office buildings with a pedestrian-friendly campus anchored by landscaped courtyards, breezeways, public art, live music and a kiosk village named “The Yard”.

The primary developer of the OCVIBE project is the Samueli family, through their company, OC Sports & Entertainment. This $4bn mixed-use development in Anaheim, California, is centred around the Honda Center and is being brought to life with the help of various real estate and development experts. OCVIBE is opening in phases, with the first phase scheduled to begin in 2026. OCVIBE is a transformative 100-acre mixed-use development designed to be a premier destination for both Southern California locals and visitors. The project goes far beyond traditional real estate, blending diverse dining options, vibrant nightlife, cutting-edge office space, inclusive public areas and world-class sports and entertainment venues into a seamless and engaging experience. JLL will oversee operations, management and maintenance of OCVIBE’s expansive commercial and common areas, including 20 acres of parks and public plazas, four parking garages, a wide range of restaurants, a modern office building called The Weave and retail plazas surrounding the Honda Center.

Asia

Phoenix Mills, India’s largest mall operator, is currently working on three new projects, one of which is Phoenix Grand Victoria in Alipore, Kolkata. The project was announced in 2021 while the construction started in 2023. The mall is planned to be based on a 7.48 acre area with one million square feet of retail area in its first phase, which is on course to open in 2026. Along with retail shops, the mall will contain a multiplex, food court, gaming and entertainment space and a wellness centre. There will be 1,834 underground parking spaces.

Developer Pacific Group will develop a 15 lakh square feet shopping mall and a hotel in Jaipur, India to expand its business amid rising demand for premium retail spaces. The company has acquired an 11-acre land parcel for the project which will be called Pacific Mall Jaipur. The development will also include a 130-room hotel, which will be operated by a reputed hospitality chain. The mall is expected to be operational by the end of 2026, with the hotel slated to open in 2027. The group, which currently operates nine shopping malls totalling over 30 lakh square feet across Delhi, Ghaziabad, Faridabad and Dehradun, is now entering the Rajasthan market and upon completion, the mall will become the largest mall in the city.

Developer Mitsui Fudosan have held a “topping-out ceremony” for its planned Mitsui Shopping Park LaLaport development in Fengshan District, marking a major milestone in what will become the company’s third LaLaport shopping complex in Taiwan. The project, located east of the Weiwuying National Kaohsiung Center for the Arts, represents an investment of more than NT$10bn. Construction has progressed steadily since ground was broken in 2023 and the Kaohsiung LaLaport project is planned to house approximately 270 retail outlets, combining international brands with local offerings. According to project plans, LaLaport Kaohsiung will consist of seven above-ground floors and two basement levels, with a total floor area of approximately 62,000sq m. The design concept, described as “Urban Green Nest,” integrates retail, dining and cultural spaces. The site is scheduled to open to the public later this year.

Snøhetta, in collaboration with A49 Architects, has unveiled its most extensive urban regeneration project in Asia for Magnolia Quality Development Corporation (MQDC). Located in the South Sukhumvit – one of Bangkok’s most vibrant cultural and innovation hubs – Cloud 11 is a 250,000sq m mixed-use development defined by a central courtyard that serves as both ecological infrastructure and cultural park. The design harnesses the power of landscape to create an urban oasis that champions environmental resilience and community wellbeing. Cloud 11 responds to Bangkok’s pressing urban challenges, aligning with the Green Bangkok 2030 and Enter Bangkok 2050 initiatives that reflect Thailand’s commitments under the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. As a development supporting these national and global goals, the design employs a sustainable, landscape-based approach to offset the environmental impact of large-scale urban developments. It incorporates a mix of residential, working and leisure facilities, including studios, hotels, market halls and eateries. The project is set to open to the public in March 2026.

Central Pattana, a leading Thai real estate developer, has announced the launch of “The Central Phaholyothin” – a 21bn-baht flagship megaproject in Thailand. Positioned as “The Landmark of Northern Bangkok”, the project is situated between Vibhavadi Rangsit Road and Phahon Yothin Road and can be accessed from both roads. It will span 49 rai and feature a total gross building area of 457,409sq m. The project includes a world-class Convention Hall measuring 6,700sq m, designed to host international concerts and global-scale events. Rather than simply being a shopping mall, The Central Phaholyothin will function as a “Curated Community” designed to cater to every generation under the concept of “The Central Playlist”. Developed in collaboration with leading Thai and international designers, the project will feature signature spaces including Central Stage, Waterfall Courtyard, Fashion Playlist and Creative Playlist, offering visitors fresh experiences with each visit. The Central Phaholyothin is poised to redefine the city’s urban landscape and accelerate growth in the capital’s northern corridor. The project is scheduled for completion in the fourth quarter of 2026, according to the developers.

International

Poised to transform one of Sydney’s most celebrated heritage sites into a new world-class luxury destination after opening its doors on 2 February, The Lands by Capella is a landmark mixed-use, regenerative placemaking development that blends heritage architecture with bold innovation. Anchoring the revitalised Sandstone Precinct alongside the neighbouring Capella Sydney hotel, the former Department of Lands building encompasses approximately 10,000sq m of experiential luxury retail, refreshing F&B concepts with rooftop dining and large-scale event spaces – including an opulent ballroom and The Sandstones Club by Florence Guild, designed to inspire a modern renaissance in how we live, work and connect. The two Sandstone buildings also mark Singapore-based developer Pontiac Land Group’s first mixed-use development in Australia and one of the largest privately funded tourism infrastructure projects in NSW.

Plans for an $80M expansive retail centre have been revealed for the Aura community in Queensland’s sunshine coast. The ‘Aura Home + Life’ project covers 20,000sq m and will house 12 to 16 large-format retail tenancies ranging in size from 350sq m to 5,000sq m. It will occupy a prime location adjacent to the Aura Business Park in Baringa, with easy access to the Bells Creek Arterial Road and Bruce Highway. The venue will include stores selling electrical goods, furniture, pet supplies, homewares, automotive and recreational products, two food and beverage outlets and 400 car parking spaces. Capital Property Group – the developer – expects the project to create approximately 100 new jobs during construction and more than 200 permanent and casual jobs after completion in mid-2026.

A new world-class destination, The Ellinikon is an upcoming ‘smart’ and ‘green’ city on the Athens Riviera and constitutes the largest urban regeneration project in Europe. With views of the endless blue of the Aegean Sea and breathtaking sunsets, The Ellinikon is the ultimate year-round destination. The 15-minute paradigm city offers a new contemporary way of life for everyone. Smart residences, top shopping offerings, high-end gastronomy and entertainment options, place The Ellinikon at the centre of global interest. The Ellinikon, the new landmark of 21st-century Greece, invites you to discover it through a journey of exciting experiences. Part of this groundbreaking development, The Ellinikon Mall will be a new meeting point for all as visitors will be able to explore an innovative destination that spans 100,000sq m, offering premier retail, F&B and entertainment offerings. Developer LAMDA Development’s vision for the iconic The Ellinikon Mall is to unite shopping, entertainment, work and relaxation within a single space, offering visitors a fresh way of life within contemporary infrastructures distinguished by their exceptional aesthetics. The first major projects and public spaces (including retail) are scheduled for completion and opening this year.

Istanbul is set to become home to Türkiye’s first luxury designer outlet, with the Florentia Village Luxury Designer Outlet scheduled to open in 2026 near Istanbul Airport. Developed by Kalyon Campus in partnership with Italy’s RDM-Fingen Group, this €160M project will bring over 200 global luxury brands to Türkiye’s growing retail market. The outlet will feature high-end fashion, designer labels and concept stores offering luxury brands at exclusive discounted prices. The project aims to attract over 10 million visitors annually, further solidifying Istanbul’s reputation as a premier shopping destination. Florentia Village is being developed with €100M in financing from JP Morgan London and €60M in direct foreign investment, backed by Italy’s Export Credit Agency, SACE. The first phase of the project will cover 65,000sq m of retail space, with plans to expand to 110,000sq m in the second phase. Alongside premium shopping, the project will also include a five-star hotel and a family entertainment centre, making it a fully integrated lifestyle destination. The strategic location near Istanbul Airport, one of the world’s busiest international hubs, is expected to make Florentia Village a key attraction for luxury shoppers, business travellers and tourists. With the airport projected to handle 100 million passengers annually by 2026, this luxury designer outlet near Istanbul Airport will serve local and international
visitors looking for premium brands at discounted prices.

An ambitious centrepiece for Huddersfield and the whole of Kirklees, the upcoming Our Cultural Heart project will breathe new life into the town centre. Bringing vibrancy into the area between Queensgate, Queen Street, King Street and Victoria Lane, this new hive of culture will deliver a surprising, inclusive and social destination for all. Due to launch in summer 2026 by developers Kirklees Council, the first phase will feature a food hall, library and public square whilst the second phase (due to open in 2029) will include a museum and art gallery. Future phases will include an urban park and the renovation of a two-storey building on Queen Street along with a new entertainment venue that will have capacity for up to 2,200 people.

The Elephant, a landmark building undergoing a transformative £132M redevelopment in the heart of the capital by developer Publica Properties is due to complete in December. The iconic former House of Fraser building at 318 Oxford Street, London W1 is being reimagined as a vibrant mixed-use office and retail destination, featuring a marquee restaurant on the eighth floor with 360-degree views across the city. The Elephant will offer 366,000sq ft of premium commercial space including a state-of-the-art gym, a 25m swimming pool and 42,600sq ft of retail units. The project has been designed to preserve and enhance the structure with upmost attention to adapting the existing building structure and minimising embodied carbon. The plans include the provision of new, attractive shopfronts, extensive refurbishment of the existing façade and the creation of highly flexible, open floorplates for varied uses. They are also incorporating a large-scale elephant sculpture crafted from recycled steel, symbolising the project’s commitment to sustainability and innovation in urban placemaking.

KwaZulu-Natal’s South Coast will soon welcome Kingsburgh Junction, with the new shopping centre set to open on 26 March 2026. The new retail hub, which AJ Property Holdings is developing, is set to become one of South Africa’s most significant retail and property developments. With the mall already generating significant interest, it is expected to reshape the retail and residential landscape of the area. The majority of the space has already been pre-let, with a potent mix of anchor tenants, including a Superspar with Tops and Vida e Café, Woolworths and Dis-Chem. Other popular national retailers will include Pep, Pep Home, Ackermans and quick-service restaurants including KFC Drive-Thru and Pedro’s. The mall is set to be a catalyst for growth in the Kingsburgh node, creating employment opportunities during construction and long-term jobs once trading starts. The development also hopes to attract shoppers from surrounding areas, support local businesses and stimulate additional investment in the area.

Middle East

The Aventura project in Jaber Al-Ahmad embodies a future vision for development projects in Kuwait, as it is considered one of the sustainable community projects currently under construction within the partnership between the private and public sectors. Developer Mabanee, along with an alliance that includes the National Industries Group and the Privatization Holding Company, is developing the project located within the development of Jaber Al-Ahmad City. The project’s design vision stems from creating a new destination with a contemporary identity and an opportunity to enjoy living in a modern, vibrant city, in which the most prominent elements of the inspiring urban environment are harmonised, including residential elements and many facilities and services such as gardens as well as commercial elements. Aventura Residences is distinguished by its proximity to the commercial component Aventura Mall, which extends over a built-up area of 295,000sq m and a total leasable area of 108,200sq m. As for Aventura Mall, it has been designed with international standards to be a contemporary symbol of Jaber Al-Ahmad City, in order to attract visitors from all over Kuwait, as it will incorporate many stores and international brands such as retail stores, restaurants and various cafes to add a distinct shopping and entertainment experience. The entire project is expected to be completed in the second quarter of 2026.

Oman Tourism Development Company (Omran) and Diamond Developers have joined forces to develop a world-class, mixed use project that meets the highest standards of social, environmental and economic sustainability. Perched on the picturesque coastline, overlooking the Gulf of Oman, The Sustainable City Yiti (TSC Yiti) brings together a pioneering vision of sustainability and an unparalleled quality of community living to Oman. The project, designed to improve quality of life for residents, makes no compromises on the needs of future generations. Directed by some of the best thought leaders in the world, TSC Yiti presents opportunities for research and learning, empowering residents to lead the change towards minimising our carbon footprint, realising the goals of the future today. Using clean energy, water & waste recycling, food production, clean mobility and better air quality, Oman’s first net-zero energy city will keep people at its heart. The Sustainable City Yiti follows the blueprint for low carbon living that was pioneered by the first Sustainable City in Dubai in 2016 as it works towards full opening this year.

On 4 May last year, Cenomi Centers and Unibail-Rodamco-Westfield (URW) signed a 10-year exclusive strategic and franchising partnership agreement, with the option to extend for another 10 years, covering the Saudi Arabian shopping centre market, demonstrating Cenomi Centers’ unwavering commitment to strengthening its leadership position in KSA and the MENA region. Through this new partnership, two flagship sites are on course to open this year.

The first of these is Westfield Jeddah by Cenomi which is being developed in the Al Basateen district within Jeddah’s northern expansion area and is a short driving distance from many higher-income residential zones. Due to open in April, the site stands on a busy roundabout, roughly ten minutes by car from the airport and is located near the Corniche, several hotels, key medical facilities and residential districts. Additionally, it has easy access to Makkah. Westfield Jeddah by Cenomi will extend over three floors and have a gross leasable area (GLA) of 104,000sq m. The retail complex will house more than 300 branded retail units including over 50 flagship outlets. It will introduce the city’s first dedicated luxury wing spanning 20,000sq m and accommodating more than 60 brands. More than 30 fashion brands at the mall will be entering the Jeddah market for the first time. Food and beverage provision will be organised into three zones and the scheme will incorporate entertainment areas and activation spaces. It will provide parking for more than 3,500 cars.

Meanwhile, Westfield Riyadh by Cenomi will feature high-end retail outlets, multiple dining formats and a range of leisure amenities including cinemas and gaming arcades. It is scheduled to open in September 2026. Westfield Riyadh by Cenomi will offer a gross leasable area (GLA) of 185,000sq m, including 65,000sq m of Grade A office space and will accommodate more than 300 retail brands and in excess of 75 flagship stores. The development will include distinct zones such as the Boulevard, Fashion Avenue, High Street, Luxury District, Park Avenue, Promenade Walk, Urban Avenue and the Volcano. The project will introduce at least 30 brands to the Riyadh market for the first time and is projected to attract more than 20 million visitors annually. Dining provisions comprise four food and beverage zones and a variety of concepts. Entertainment facilities will include cinema screens and arcade areas.

Scheduled to open by Q4 2026, The Avenues – Riyadh is located at the heart of Saudi Arabia in the North of Riyadh City, in a prime position overlooking the intersection of King Salman Road and King Fahad Bridge and extends across a total built up area of 1.8 million square metres. Under development by Mabanee, the scheme is expected to become one of the most prominent investment and commercial destinations in the Middle East with a gross leasable area of around 370,000sq m and will comprise a large mall and five towers. The first tower will include offices, the second tower the Waldorf Astoria Hotel, the third tower residential apartments, the fourth tower the Canopy Hotel and the fifth tower the Conrad Hotel. The project will also encompass parking space for 15,000 vehicles. As for the mall component, it will include 19 cinema halls and nine districts: namely Grand Avenue, Prestige, Grand Plaza, The Forum, Electra, The Souk, The Mall, The Walk and The Oasis. The Avenues – Riyadh reflects the Salmani Architecture, which is characterised by an architectural style that embodies originality and modernity inspired from the past with renewed developmental moulds to reflect its presence in the heart of Najd in Riyadh. It will also feature modern designs within the mall with sustainable and green elements that emulate the vision of the Kingdom.

Sobha Realty, a leading global luxury real estate developer, is continuing construction of its flagship community Sobha Hartland in the heart of Dubai. With an estimated cost of AED 210M, the project blends the vibrancy of retail space with the serenity of an urban park, while ensuring exceptional experiences for residents and visitors. The mall is scheduled to be completed in the second half of 2026. The new mall is being meticulously designed to set new standards for a luxury mall, which perfectly combines nature, culture, gastronomy and recreation. The mall’s exquisite features will provide an inspiring and memorable experience, promoting a sense of community and elevating the quality of life for residents of Sobha Hartland. With a built-up area of approximately 339,000sq ft and a gross leasable area of around 115,000sq ft, the project will house a variety of amenities, including a supermarket, gym, play courts, a soft play/entertainment zone and diverse restaurants offering a wide range of food choices. It will feature 35 retail shops and F&B outlets, along with over 10 unique dining options, establishing a new gastronomic destination for the community.