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

12 May 2025 CW Team

Phoenix Mills, India's largest owner and operator of malls, has outlined ambitious expansion plans aimed at increasing its retail space from the current 11.5 million square feet to over 14 million square feet by 2027 and eventually reaching 18 million square feet by 2030. The company stated that this growth would be driven by new developments in key cities such as Kolkata, Surat, Coimbatore, Thane, and Chandigarh.

In the financial year 2024–25, the company reported a capital expenditure of approximately Rs 26 billion, which was allocated toward land acquisitions and construction activities. It further conveyed its intention to invest Rs 12 billion to Rs 13 billion annually to fuel ongoing expansion. Of the total investment, around Rs 16 billion had been dedicated to land purchases in Coimbatore, Chandigarh, Bengaluru, and Mumbai, while ?10 billion had been directed toward construction.

Phoenix Mills also revealed plans to add 400,000 square feet of retail space to its Lower Parel property over the next two years. In addition to retail, the company is targeting significant growth in the commercial office segment, aiming to increase its office space from three million to seven million square feet by 2027. Leasing discussions are currently underway for approximately 1.2 to 1.4 million square feet in Pune, Bengaluru, and Chennai.

In the hospitality sector, the company plans to introduce 400 more hotel keys, raising its total inventory to 988 by 2027. Furthermore, it emphasized a broader diversification strategy across its real estate projects to support sustainable, long-term growth.

News source: Silicon India

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Domicil Debuts In Tricity With Luxe 9 Showcase

Domicil Germany, a luxury home furnishing brand from the House of HTL International, has made its Tricity debut with an exclusive showcase at Luxe 9, marking its first retail presence in the region.The invite-only event brought together architects, interior designers, real estate developers and high-net-worth individuals, reflecting rising demand for globally inspired, design-led living spaces.Centred on the theme ‘Celebrate Living with Timeless German Design’, the showcase highlighted Domicil’s focus on combining craftsmanship, functionality and refined aesthetics. Attendees experienced..