Phoenix Mills to Expand Retail Space to 14 Million Sq Ft by 2027
Real Estate

Phoenix Mills to Expand Retail Space to 14 Million Sq Ft by 2027

Phoenix Mills, India’s largest mall operator, plans to expand its retail portfolio from 11.5 million square feet to over 14 million square feet by 2027 and 18 million square feet by 2030. The growth will be driven by new developments in cities such as Kolkata, Surat, Coimbatore, Thane and Chandigarh.

In financial year 2024–25, the firm spent approximately Rs 26 billion on acquiring development potential and construction activities. It expects to invest Rs 12 billion to Rs 13 billion annually for expansion. Notably, Rs 16 billion was allocated to land acquisitions in Coimbatore, Chandigarh, Bengaluru and Mumbai, while Rs 10 billion was directed towards construction.

Phoenix Mills also aims to add four hundred thousand square feet to its Lower Parel property within two years. In the commercial office segment, the company intends to grow from three million to seven million square feet by 2027, with ongoing leasing discussions for one point two to one point four million square feet in Pune, Bengaluru and Chennai.

In hospitality, the company plans to add four hundred hotel keys, raising its total to 988 by 2027. It is also exploring broader diversification of its real estate projects to support long-term growth.

Source:The Financial Express

Phoenix Mills, India’s largest mall operator, plans to expand its retail portfolio from 11.5 million square feet to over 14 million square feet by 2027 and 18 million square feet by 2030. The growth will be driven by new developments in cities such as Kolkata, Surat, Coimbatore, Thane and Chandigarh.In financial year 2024–25, the firm spent approximately Rs 26 billion on acquiring development potential and construction activities. It expects to invest Rs 12 billion to Rs 13 billion annually for expansion. Notably, Rs 16 billion was allocated to land acquisitions in Coimbatore, Chandigarh, Bengaluru and Mumbai, while Rs 10 billion was directed towards construction.Phoenix Mills also aims to add four hundred thousand square feet to its Lower Parel property within two years. In the commercial office segment, the company intends to grow from three million to seven million square feet by 2027, with ongoing leasing discussions for one point two to one point four million square feet in Pune, Bengaluru and Chennai.In hospitality, the company plans to add four hundred hotel keys, raising its total to 988 by 2027. It is also exploring broader diversification of its real estate projects to support long-term growth.Source:The Financial Express

Next Story
Infrastructure Transport

Railways approves major upgrade for Telangana traction lines

The Ministry of Railways has approved the upgradation of the electric traction system in two crucial railway sections — Medchal–Mudkhed (225 km) and Mahbubnagar–Dhone (184 km). The projects, costing Rs 1.93 billion and Rs 1.23 billion respectively, will enhance the electric traction capacity from 1X25 KV to 2X25 KV. The work includes modifications to circuit breakers and switching stations, along with the installation of additional conductors. These routes serve as vital links between Northern and Southern India via Hyderabad. Once completed, the upgraded system will reduce voltage dro..

Next Story
Infrastructure Transport

Adani to invest Rs 425 billion more in Maharashtra’s Dighi Port

The Adani Group has committed to invest an additional Rs 425 billion in the Dighi Port project, located along Maharashtra’s coastal Konkan belt, government officials announced on Monday. Adani Ports and Special Economic Zone (APSEZ)-run Dighi Ports signed a memorandum of understanding (MoU) with the Maharashtra government to undertake the expansion of the port and related infrastructure. This new commitment comes as part of a broader investment initiative by the state. Chief Minister Devendra Fadnavis said the agreement is among 15 MoUs worth over Rs 560 billion signed during the opening d..

Next Story
Infrastructure Transport

HUDCO, JNPA sign Rs 50 billion deal for port development

In a strategic move, the Housing and Urban Development Corporation Ltd (HUDCO) has signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) for an investment of Rs 50 billion to revamp and develop port infrastructure. The non-binding agreement is intended to strengthen cooperation on both existing and upcoming infrastructure projects, with a focus on development, financing, and refinancing of port facilities at the Jawaharlal Nehru Port. The MoU was formalised with the signatures of Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and Unmesh Shar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?