Prestige Group's Forum Malls Announces Ambitious Plan to Launch 14 New Shopping Centres Across Indian Metro Cities by 2029

The retail division of Prestige Group has announced an aggressive expansion strategy that will see the company opening 14 new shopping centres across India's major metropolitan areas by 2029. The company, which currently operates three malls, revealed its ambitious plans to establish a stronger presence in key urban markets including Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad.

India's First Athleisure Mall Set for Bengaluru Launch

Among the most significant developments in Forum Malls' expansion pipeline is the introduction of India's first athleisure-focused shopping centre, scheduled to open around 2027. The innovative retail concept will be located near Bengaluru's international airport and will span approximately 800,000 square feet. The specialised mall is designed to cater specifically to global sportswear brands, fitness studios, yoga centres, and lifestyle outlets, marking a departure from traditional retail formats. This move aligns with India's growing fitness and wellness trend, as seen in the broader lifestyle mall expansion across tier-2 cities.

Metro Cities Drive Retail Expansion Strategy

Industry sources indicate that Forum Malls' expansion strategy is being driven by robust demand in metropolitan cities, where consumers demonstrate both the financial capacity and willingness to spend on branded retail experiences. The company has identified that while tier-II cities may offer affordability, the propensity to spend on premium retail and lifestyle offerings remains comparatively lower than in major metros.

Festive Season Revenue Projections

According to company projections, Forum Malls expects the upcoming festive season, spanning October to December, to contribute approximately 30-40% of its annual revenue. The company anticipates footfall and revenue growth of around 15% during October, excluding any boosts from tax reforms. To capitalise on this critical period, Forum Malls allocates 30-40% of its annual marketing budget specifically for festive season preparations and promotions.

Industry Context and Competitive Landscape

This expansion comes at a time when India's retail real estate sector is experiencing significant growth. The move by Forum Malls follows similar announcements by other major players, including DLF's ₹10,000 crore investment plan for premium offices and malls by FY27, and Bharti Real Estate's ₹20,000 crore investment in Aerocity to build India's largest retail mall.

The retail expansion strategy reflects broader trends in India's commercial real estate market, where developers are increasingly focusing on experiential retail formats to attract consumers in an era of digital commerce growth.

Disclaimer: This news article is based on publicly available information and industry reports. While every effort has been made to ensure accuracy, readers are advised to verify details independently before making any business or investment decisions. The information provided is for general informational purposes only and should not be considered as professional advice.