Knight Frank forecasts sales in malls in India to touch $39 billion by FY28

Mumbai, the Nationwide Capital Area (NCR), Bengaluru, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad have been the highest 8 cities for mall retail gross sales, and so they elevated at a CAGR of roughly 3% to achieve USD 8 billion in FY2022.

Mall potential consumption is anticipated to strategy pre-Covid-19 ranges in FY2023, rising to USD 11 billion. Based on Vivek Rathi, Director of Analysis at Knight Frank India, there could be a 50-55 million sq. foot enhance in new retail area in malls over the following six years, which can end in larger gross sales at buying facilities.

He stated that the growth of organized retail consumption in addition to the economic system had been thought-about. Based on Knight Frank, the overall mall inventory on the finish of the primary half of the 2022 calendar 12 months was 8.6 million sq. meters (92.9 million sq. toes), distributed throughout 271 energetic malls within the prime eight markets.