Forum Malls Announces Aggressive Expansion Plan with 14 New Centres by 2029

Forum Malls, the retail division of Prestige Group, has unveiled ambitious plans to nearly double its shopping centre footprint across India over the next five years. The company aims to launch 14 new malls in major metropolitan areas by 2029, according to CEO Muhammad Ali.

Strategic Focus on Metro Markets
Currently managing 11 shopping centres, including eight developed in partnership with Nexus, Forum Malls is strategically targeting India’s tier-I cities. The expansion will concentrate on Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad, where consumer spending power remains consistently strong.

“Urban markets are where the money is, where people have both the means and the appetite to spend,” Ali explained during a recent announcement. He emphasized that while tier-II cities may offer affordability, the spending patterns and consumer behavior in metropolitan areas significantly outperform smaller markets.

This focused approach reflects broader retail industry trends, where major shopping centre developers increasingly prioritize established urban markets over emerging cities. The strategy aligns with consumer data showing higher discretionary spending and brand loyalty in tier-I locations.

India’s First Athleisure Mall Coming to Bengaluru
In a groundbreaking move, Forum Malls plans to introduce India’s first athleisure-themed shopping centre by 2027. Located near Bengaluru’s international airport, this 8,00,000 square foot facility will feature global sportswear brands, state-of-the-art fitness studios, and lifestyle outlets catering to the growing wellness and fitness market.

The concept represents a significant shift in Indian retail, responding to increasing consumer interest in health, fitness, and active lifestyles. This specialized mall format could potentially set new standards for themed retail developments across the country.

Festive Season Revenue Surge Expected
Forum Malls anticipates strong performance during the upcoming festive season, with projected increases of 15 percent in both footfall and revenue for October. The company strategically allocates 30-40 percent of its annual marketing budget to the October-December quarter, recognizing this period’s crucial contribution to overall annual sales performance.

This expansion announcement comes as India’s retail real estate sector continues recovering and growing, with shopping centres adapting to evolving consumer preferences and spending patterns in post-pandemic markets.