Published
Jul 1, 2019
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Mall space in India expected to increase by 65 million square feet by end of 2022

Published
Jul 1, 2019

Malls in India are receiving increased investment and over 65 million square feet of new mall space is expected to be created by 2022.

India is expected to gain 65 million square feet of mall space by 2022 - DLF Mall of India- Facebook


In both metro and lower-tier locations, mall space is set to increase over the next three years, according to Anarock Property Consultants’ latest report. Around 72 percent of the expected upcoming retail space will launch in India’s top seven largest cities and the remaining 28 percent is expected to launch in Tier 2 and 3 locations, according to the report. 

Anarock expects 32 million square feet of mall retail space to launch in the Mumbai Metropolitan Region, Delhi-NCR, Hyderabad, and Bengaluru. Of the total expected 65 million square feet of retail space expected by 2022, around 40 million square feet is expected to be developed by the end of 2020 in both metro and non-metro locations.

“This new supply is also driven by the increasing interest of institutional investors, including private equity players, who invested almost $1.9 billion into Indian retail between 2015 and Q1 2019,” Anarock Retail’s managing director and CEO Anuj Kejriwal told ET Bureau. “In fact, over 60 percent of this investment corpus was infused in the last two years of 2017 and 2018 alone, making these the best years for the retail sector in recent times.” Although online retail is continuing to grow in India and adding competition for malls, Anarock predicts that the retail category will continue to grow in the coming years. 

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