The DLF Promenade shopping mall is reflected in a water feature in New Delhi, India. (Photographer: Graham Crouch/Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

India’s retail real estate market is consolidating at a rapid pace, with institutional developers now accounting for a growing share of operational malls and new supply. Latest data from Anarock Research shows that of the country’s 650 functional malls, nearly one-third are institutional grade, a significant shift in a sector that was once dominated by fragmented, standalone projects. Over the next 3-5 years, more than 42.5 million sq. ft. of additional mall space is expected to come onstream through large-format, investor-backed projects.

Seven developers — Nexus Malls (Blackstone), Phoenix Mills, DLF

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