Mumbai, April 15 || India's retail real estate sector is going through a major transformation as over 70 per cent of the 12.3 million square feet of new Grade A mall space expected in 2025 and 2026 will be of Superior Grade (A+), a new report said on Tuesday.
This change is being driven by rising consumer aspirations, higher spending, and a shift in strategy by both brands and developers, according to a new report by Cushman and Wakefield.
These new malls will offer better quality, service, and experience, marking a shift from simply expanding space to upgrading standards.
Saurabh Shatdal, Executive Managing Director at Cushman & Wakefield, said India’s retail sector is changing fast, and so are consumer expectations.
“Today’s shoppers are looking for thoughtfully designed spaces where the shopping experience is just as important as the product. High-performing categories like beauty, wellness, food and beverage, and athleisure are helping shape this new phase of Indian retail,” he added.