Forum Malls to Add 14 New Centres by 2029, Riding Festive Growth

Forum Malls is gearing up for a nationwide retail push, with 14 new shopping centres planned by 2029 across India’s top-tier cities. The retail arm of Prestige Group currently operates 11 malls—eight in partnership with Nexus—and is doubling down on metro markets like Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad.

CEO Muhammad Ali told Reuters that Tier-I cities still offer headroom for growth, unlike Tier-II markets where affordability exists but premium retail appetite remains muted. “Urban markets are where the money is, where people have both the means and the appetite to spend. In tier-II cities, affordability may exist, but the propensity to spend simply doesn't match metros,” he said.

Forum’s expansion is timed with India’s festive season, which accounts for 30–40% of its annual sales. The company begins planning in January and allocates nearly half its marketing budget to the October–December window. “We treat the festive season with utmost seriousness, investing significant time, effort and money into it,” Ali added.

The firm is also set to launch India’s first athleisure-focused mall by 2027 near Bengaluru’s international airport. Spanning 800,000 sq ft—roughly the size of 10 soccer fields—the complex will house global sportswear brands, fitness gear, yoga studios, and lifestyle retailers.

Bengaluru remains Forum’s strongest market, home to flagship centres like Forum South Bengaluru and Forum Rex Walk, alongside a cluster of Nexus malls. But competition is heating up, with Phoenix Mills, Orion, and VR Bengaluru all vying for shopper loyalty.

While investment figures remain undisclosed, Forum’s strategy signals confidence in urban retail resilience—even as e-commerce grows. With tax cuts boosting consumer sentiment, Ali expects a 15% rise in footfall and revenue this October, excluding any uplift from reforms.