Apple India Leases 12,616 Sq Ft Retail Space at Mumbai’s Sky City Mall

Apple India has expanded its retail footprint by leasing a substantial commercial space in Mumbai. The tech giant has secured 12,616 square feet at Sky City Mall, as part of its broader strategy to strengthen its physical presence across the country.

Lease Terms and Rental Details

According to data from CRE Matrix, the monthly rent for the leased space is ₹138 per square foot. This translates to a minimum monthly rent of ₹17,35,104. In addition to this base rent, the agreement includes a revenue-sharing model:

• 2% of revenue per quarter will be shared during the first 42 months of the lease.

• 2.5% of revenue per quarter will apply thereafter.

This hybrid structure — combining fixed rent with performance-based revenue sharing — indicates Apple’s confidence in the location's commercial viability.

Apple’s Retail Expansion in India

This leasing deal is part of Apple’s continuing push to grow its brick-and-mortar presence in India. The company made a significant splash in April 2023 when it launched its first two official Apple Stores:

• Apple BKC in Mumbai

• Apple Saket in New Delhi

Both locations received overwhelming customer response, signaling a growing appetite for Apple’s retail experience in India.

Future Apple Stores Planned Across Major Indian Cities

In October 2023, Apple announced its intention to open four more stores in key urban centres:

• Pune

• Bengaluru

• Delhi-NCR

• Mumbai (second store)

These upcoming stores are expected to follow Apple’s global retail design philosophy and enhance the brand’s customer engagement and service delivery in India.

India’s Strategic Role in Apple’s Global Plans

Apple’s investments in India extend far beyond retail. The company began iPhone manufacturing in India in 2017, tapping into the government's “Make in India” initiative. Over the years, Apple has ramped up its local production capabilities through partnerships with suppliers like Foxconn, Pegatron, and Wistron.

In May 2025, government sources confirmed that Apple remains committed to its long-term investment strategy in India. The company reportedly aims to establish a major manufacturing base in the country, potentially making India a key hub in its global supply chain.

Significance of the Sky City Mall Lease

Sky City Mall, located in Mumbai’s western suburbs, is a premium commercial and retail destination. Leasing space here aligns with Apple’s strategy of positioning its stores in high-footfall, urban locations. This new outlet will likely attract premium consumers and tech enthusiasts in Mumbai, reinforcing Apple’s market positioning.

Retail Growth Amid Rising Consumer Demand

India is emerging as one of Apple’s fastest-growing markets, driven by rising income levels, a tech-savvy population, and increased access to financing options like EMIs and trade-in offers. Establishing a strong retail network helps Apple provide:

• Direct access to customers

• On-site support and services via Apple Geniuses

• Better brand visibility in a highly competitive smartphone market

By growing its physical store presence, Apple can also complement its robust online sales channels.

Conclusion: Apple Strengthens India Play with Real Estate, Retail, and Manufacturing Push

Apple’s lease at Sky City Mall is more than just a real estate move. It reflects the company’s long-term confidence in India’s potential, both as a consumer market and a manufacturing destination. As it opens more stores and expands local production, Apple is positioning itself to play a central role in India’s digital economy.