Mumbai’s Mall Stock To Rise To 21.6 Million Sq Ft By 2031: JLL
Mumbai, September 28, 2026: Mumbai’s shopping mall stock is projected to expand from 15.1 million sq ft in the first half of 2026 to 21.6 million sq ft by 2031, as developers step up investments in large-format and experience-led retail destinations, according to a report by JLL titled Indian Retail 2031: Towards a future-ready ecosystem. Mumbai currently has the second-highest operational mall…
Mumbai's shopping mall footprint is set to grow significantly over the next five years, reaching 21.6 million square feet by 2031, according to a report by JLL. This expansion is driven by rising consumer demand, international brands entering and expanding their presence, and domestic retailers' need for higher quality retail space.
Currently, Mumbai holds the second-highest operational mall stock in major markets, behind Delhi-NCR, with 15.1 million square feet of malls in the first half of 2026. The report projects a 51.1 million square feet increase in Indian mall stock by 2031, with India's total mall stock reaching 143.2 million square feet. While Delhi-NCR will retain the largest mall stock at 48.6 million square feet, Mumbai is expected to reach 21.6 million square feet, and Bengaluru will have 22 million square feet.
The growth in mall development will be characterized by large-format, experiential destinations, which are projected to account for nearly 56% of the upcoming supply. This shift towards experiential shopping spaces indicates a transformation in how consumers engage with retail and evolving consumption patterns.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
