Mumbai's mall revolution: Why older centres fade as luxury and leisure rise
The retail mall sector in the Mumbai Metropolitan Region (MMR) is undergoing a major shift. Many older shopping centres have either closed or lost their appeal, while newer developments focus on entertainment and luxury. Industry experts point to changing consumer habits and better management as key drivers of this transformation. Several well-known malls in MMR have struggled to stay relevant. Nirmal Lifestyle Mall in Mulund, Centre One Mall in Vashi, and Dreams Mall in Bhandup have either shut down or faded in popularity. City Mall and Mega Mall in Andheri have also lost their former prominence. Meanwhile, Raghuleela Mall in Vashi is now being repurposed as a commercial estate, and Kohinoor Mall in Kurla remains only partially operational.
Even established malls face challenges from newer competitors. Growel's 101 Mall in Kandivali and Inorbit Mall in Malad are dealing with rising competition from larger, more modern retail spaces. Pankaj Kapoor, Founder and Managing Director of Liases Foras, explains that early mall struggles stemmed from a lack of specialised retail management and poor understanding of shopper behaviour.
Today, consumer preferences in MMR are shifting towards malls due to urban density, safety concerns, and lifestyle choices. High-street shopping formats are declining, while malls are evolving into family-friendly leisure hubs. The next wave of developments will prioritise entertainment, food and beverage options, luxury retail, and immersive experiences.
Professionally managed, experience-driven malls are now shaping the sector’s future. Oberoi Realty is expanding its retail presence with new projects in Worli and Thane, signalling confidence in this evolving market. The MMR mall landscape is moving away from outdated models toward dynamic, well-managed spaces. With a focus on entertainment, luxury, and social experiences, newer developments aim to meet modern consumer demands. The sector’s growth will depend on how well these changes align with shopper expectations and urban lifestyles.
