Summary:

According to Anarock, India’s seven largest cities will add 16.6 million square feet of premium retail space in new malls by the end of 2026, with Hyderabad and Delhi-NCR accounting for 65% of the total. Mumbai, Kolkata, Chennai, Bengaluru, and Pune will also experience growth. This surge responds to a recent shortage of Grade A mall space. Leasing has outpaced supply, with 6.5 million square feet leased in both 2023 and 2024 despite modest new space additions. While concerns about oversupply remain, Anarock expects to lease more than 12.6 million square feet over the next two years. Retail expansion is also increasing in tier II and III cities, with Jaipur emerging as a vital centre due to shifting consumer demand and lifestyle trends.

Source: IBEF

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