By the end of 2026, eight major cities in the nation will have over 20 upscale shopping malls with 123 lakh square feet of retail space operational to meet the growing demand from merchants seeking to grow their businesses, according to Cushman & Wakefield.
The paper titled Premiumization of India’s Retail Sector – Upscaling, Upgrading and Evolving was presented at the MAPIC India Summit by real estate consultant Cushman & Wakefield. According to the consultant, in 2025 and 2026, up to 19 Grade A shopping malls with a total of 12.3 million square feet of new retail space would open.
Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad are the eight cities in question.
8.6 million of the 12.3 million square feet of new Grade A mall supply anticipated in 2025 and 2026 will be superior Grade (Grade A-plus), highlighting the industry’s transition from scale to quality.
High occupancy rates (above 85 per cent), a premium tenant mix, and service-rich surroundings are characteristics of superior-grade malls, which are usually owned and run by reputable developers or institutional investors.
