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Top Mall launches of 2024

Relisting some of the most talked about mall launches of the year

New Delhi: India’s retail sector showed strong growth and resilience in 2024. According to a report by CBRE, the first nine months of the year saw an estimated 4.5 million sq. ft. of retail space absorbed. Mid-range and value fashion brands were the main contributors to this growth, while luxury and direct-to-consumer (D2C) brands also saw continued success.

The retail supply forecast for 2024 was around 5–6 million sq. ft. in tier-I cities, with Grade A mall supply expected to reach approximately 1–1.5 million sq. ft. Retailers focused on integrating community spaces and smart technologies, offering shoppers more engaging experiences.

2024’s Top Mall Launches

Several new malls have opened across India, adding to the retail landscape. These developments reflect the growing demand for shopping, entertainment, and dining options.

  1. HiLITE Mall – Thrissur
    • Developer: HiLITE Group
    • Launch: December 2024
    • Size: 7.4 lakh sq. ft. (4 lakh sq. ft. leasable area)
  2. PRM Centre Point Mall – Malda
    • Developer: PRM Begraj Group
    • Launch: December 2024
    • Size: 2.2 lakh sq. ft.
  3. Lulu Mall – Kottayam
    • Developer: Lulu Group
    • Launch: December 2024
    • Size: 2.5 lakh sq. ft.
  4. Pacific Mall – Dehradun
    • Developer: Pacific Development Corporation Ltd.
    • Launch: June 2024
    • Size: 7 lakh sq. ft.
  5. M5 Ecity Mall – Bengaluru
    • Developer: Mahendra Homes Pvt. Ltd.
    • Launch: October 2024
    • Size: 6.8 lakh sq. ft.
  6. Lulu Mall – Kozhikode
    • Developer: Lulu Group
    • Launch: October 2024
    • Size: Spread across three floors
  7. Omaxe Chowk – Old Delhi
    • Developer: Omaxe Group
    • Launch: March 2024
    • Size: 1.11 million sq. ft.
  8. Langval Mall – Thanjavur
    • Developer: Langval Group
    • Launch: August 2024
    • Size: 2.5 lakh sq. ft.
  9. Prism Mall – Hyderabad
    • Developer: Mandate & Beyond Advisory Pvt. Ltd.
    • Launch: Early 2024

The demand for retail space, especially from new sectors, is likely to affect rental prices, depending on the developer and the mall’s location. Retail rental values in key tier 1 and tier 2 cities increased. Bengaluru, Delhi-NCR, and Mumbai accounted for 60% of retail space absorption between January and September 2024. Projections suggest retail leasing will remain strong, with expected absorption between 6–6.5 million sq. ft. by the end of the year.

With increased focus on technology and community-driven spaces, malls are evolving into destinations that offer more than just shopping.

The post Top Mall launches of 2024 appeared first on India Retailing.



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