What the rise of ghost malls says about India’s changing retail landscape

Despite India’s thriving retail scene, the country has recently seen a sharp increase in the number of small malls left vacant, casting doubt on the future of shopping malls. In its latest report, ‘Think India Think Retail 2024’, real estate consultancy Knight Frank found the number of ghost malls rose to 64 last year, from 57 in 2022. A ghost mall is defined as a property with a vacancy of more than 40 per cent. “Many of the small shopping malls are on the verge of closure,” s

This content is for IR Pro subscribers only.

Subscribe now to unlock an all-access pass.

IR Pro - monthly

$1 for the first 30 days. (Auto renews at $20 per month.)
  • Unlimited news access
  • Exclusive members only masterclasses (live and on-demand)
  • Weekly careers advice
  • Weekly and quarterly digital magazines delivered to your inbox
Subscribe now
Retailer’s choice

IR Pro - annual

$109 for the first year. (Auto renews at $228 per year.)
  • Unlimited news access
  • Exclusive members only masterclasses (live and on-demand)
  • Weekly careers advice
  • Weekly and quarterly digital magazines delivered to your inbox
Subscribe now