Archive · 11 Jun 2025
Prestige Estates Shifts Focus to Entertainment in Indian Malls
Imagine a company building shopping malls in India.
They noticed that people like buying things online.
So, they're changing their malls!
Instead of just stores, they will have more fun things to do like restaurants and entertainment.
They plan to have more space for these activities.
The company wants to adapt to the changing times.
They will be adding more live performances, which are things you have to go see in person, so you cannot get them online.
They are expanding to more cities, hoping to attract people to make the malls fun.
Prestige Estates Projects Ltd. plans to allocate 40% mall space to entertainment and dining.
Retail space will be reduced from 85% to 60%.
The shift is driven by changing consumer behaviors and e-commerce competition.
Prestige aims to expand to 15 malls by 2030, focusing on cities like Bangalore and Mumbai.
The new mall structure is expected to generate approximately ₹1,250 crore in annual rentals by 2030.
- Who
- Prestige Estates Projects Ltd., a Singapore government-backed real estate developer.
- What
- Prestige Estates Projects Ltd. is reallocating mall space to prioritize entertainment and dining over retail.
- When
- The changes are planned for implementation by 2030.
- Where
- India, including cities like Bangalore, Mumbai, Hyderabad, and Goa.
- Why
- To adapt to changing consumer behaviors, compete with e-commerce, and diversify revenue.
Traditional Retail
Entertainment and Dining
Focus of Malls
Traditional Retail
Retail is a core part of malls, but faces rising competition from e-commerce.
Entertainment and Dining
Entertainment and dining are essential parts of the modern mall experience.
- Company
- Prestige Estates Projects Ltd.
- Investors
- Blackrock Inc and Vanguard Inc
- Current Malls
- 4
- Planned Malls by 2030
- 15
- Planned expansion area
- 10 million sq ft
- Mall Rental Revenue FY25
- ₹200+ million
- Planned Mall Rental Revenue by 2030
- ₹12.5 billion