By Faizan Haidar
Copyright indiatimes
AgenciesRepresentational image
Delhi will see the highest supply of retail spaces in more than a decade as four new malls are expected to become operational in the next few months, market experts said.With residential and office developments moving to Gurgaon and Noida, retail spaces followed, leaving Delhi with very few new projects.The projects that will become operational include Unity Elegante, DLF Midtown, Epicah Moti Nagar and Devasya City Centre, and will have over one million sq ft of area together.“Vegas Mall in Dwarka and Pacific Mall in Jasola were the major developments in recent years, but Delhi has not seen a cumulative supply of one million sq ft for a very long period. Brands are eager to lease space in Delhi, but they are left with no option except the successful malls in South Delhi,” said Shriram PM Monga, co-founder of retail consultancy firm SRED.In addition to these developments, Delhi will also add major retail space in the next few years.Live EventsBharti Group is developing a 3 million sq ft mall at Aerocity, while Unity Group is developing another mall in North Delhi.“We are developing 8 lakh sq. ft. in East Delhi where 160,000 sq. ft. is dedicated to retail. There are very few properties in the region that are not sold and are owned by a single owner. This gives confidence to the brand, and we are hopeful of making the mall operational by January next year,” said Dev Garg, CEO of Devasya City Centre.Raheja Group is also developing a mall in Central Delhi, and County Group is coming up with a retail and office space at Netaji Subhash Place, Pitampura.“We have delivered 400,000 sq ft of retail and office space in Central Delhi with brands like DMart and Croma already operational. Delhi has a lot of potential, and we plan to develop more retail spaces in the future,” said Kunal Gambhir, owner of Epicah Moti Nagar.Retailers leased 2.24 million sq ft of space across malls and high streets in the top eight cities during April-June, a 5.4% dip q-o-q and a 6.3% dip y-o-y.According to Cushman & Wakefield, H1 2025’s leasing volumes stood at 4.61 MSF, marking a 17% y-o-y growth.In terms of cities, Hyderabad, Mumbai and Delhi-NCR emerged as the top-performing markets, collectively accounting for over 70% of the total leasing activity in the quarter.Malls accounted for 45% of leasing volume in Q2 (1.01 MSF), a 42% q-o-q rise, and the highest mall share in the past five quarters, signalling growing interest in experience-driven, structured retail formats.Add as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onDelhi retail spacesnew malls in Delhiretail space market in Delhiretail space supply growthmajor retail developments in DelhiUnity EleganteDLF MidtownEpicah Moti NagarDevasya City CentreBharti Group(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
