Page 52 - #201 September 2025

WORLD CLASS RETAIL

- Spotlight on India

Mall Meets Metropolis

India’s retail landscape is a vibrant ensemble of formats. Through the rapid urbanisation of the country in recent
decades, retailing in India has evolved significantly and the mall culture continues to grow. Over the coming pages,
RLI takes a closer look at an undervalued retail market and how some of its recent and upcoming projects are placing
it firmly on the mixed-use development global map.
J LL’S GUIDE ON INDIA entitled ‘The real spaces steadily. Of the expected mall supply from retail market dynamics: Q4 2024’ - during the
2025 to 2030, nearly 43 per cent will be spread
calendar year 2024, 8.1 million square feet of
(e)state of Indian retail sector’ explains that
the Indian retail sector has been undergo - across malls sized between one million square feet area was leased by retailers in shopping malls and
ing a significant transformation in the current to three million square feet of gross leasable area. prominent high streets across India’s top seven
decade. Growing affluence, aspirational shift Moreover, they will largely comprise assets under cities (Mumbai, Delhi NCR, Bengaluru, Kolkata,
and social media influence are driving the trend development by listed real estate developers in Chennai, Pune and Hyderabad). Last year bore
of “premiumisation”. In the past four years, 60 the country. In a nutshell, this decade will see a witness to new retail space additions of nearly
international brands have entered India, with new rich supply of superior-quality malls from leading 1.7 million square feet across seven retail devel-
entrants nearly doubling from 14 in 2023 to 27 in real estate developers, which will redefine the opments. Despite limited infusion of new spaces
2024. Developers have been noticing this trend retail landscape in India. of superior quality, momentum in retail sector’s
and augmenting the supply of REIT-able mall According to another insight by JLL, ‘India gross leasing remained unaffected as retailers

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A RETAIL & LEISURE INTERNATIONAL MONTH 2025TEMBER 2025
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