Retail

A K Raheja Corp. affiliate, Inorbit Malls (India), has paid approximately ₹400 crore to buy a retail property in Hubli, Karnataka, as a strategic foray into Tier-2 cities. The building, called Akshay Sky Mall, has a gross built-up area of around 650,000 square feet.

Barbara Martin Coppola, Decathlon's worldwide CEO, said the French sports retailer is investing more in India's production and retail skills, underscoring the country's importance as a vital worldwide market.

The Elan Group's next project with BENOY, a world-renowned architecture company, will redefine Gurugram luxury shopping. This project introduces cutting-edge ideas to alter Gurugram's architecture.

Prestige Group, a renowned Bengaluru-based real estate developer, wants to build 9 million square feet of mall space in important Indian cities within three years. Muhammad Ali, Retail CEO, is planning to expand into Mumbai and Delhi-NCR, signalling a major development phase for the organisation.

Nexus Select Trust, the Blackstone Group's retail arm, is poised to expand in India. The agreement to buy 1 million square feet of malls in Hyderabad from L&T Metro is valued at ₹1,100 crore. This massive purchase comprises the E-Galleria Mall in Moosarambagh, the L&T Metro Mall in Punjagutta.

India will see rapid high-street retail growth. Leading developers including DLF, Godrej, Prestige group, Brigade enterprises, M3M, Omaxe, and the Dhillon Group will build three million square feet of retail complexes with open spaces over the next two to three years.

Saya Group celebrated leasing 50% of Saya Status, India's highest retail mall. The project attained this milestone three months after the facility opened. Stars of 'Dvand' Sanjay Mishra and Istiaq Khan made the evening memorable. Saya Status powered the new flick.

Lykli is poised to become a key destination for entertainment, social connections, and retail rehabilitation in the lucrative Indian market, as consumers seek immersive purchasing experiences and a diversity of offerings under one roof.

Saya Group plans to construct Saya Status, a shopping mall that, at a whopping 150 feet in height, would be the highest in all of India

Runwal has purchased Singapore's sovereign wealth fund GIC's entire 50% stake in their joint retail property R City Mall for approximately Rs 1,000 crore to gain full control of the asset in Mumbai's Ghatkopar suburb

In 2023, mall owners / developers are anticipated to lease 5-6 million square feet of space, topping the pre-Covid peak of 2019 by a significant margin.