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Merlin Group expects to complete 400,000 sq ft Joka mall in 2026
Merlin Group expects to complete its approximately 400,000 sq ft Joka mall in 2026, adding an expected ₹50 crore in annual rental income. It plans about ₹10,000 crore of investment over the next five years across residential, commercial, retail and mixed-use projects.
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The numbers
Figures from ET Realty,
| Current annual rental income: | ₹60 crore |
|---|
Why it matters to operators and investors
Brands considering Kolkata expansion should assess catchment demand and leasing terms at Merlin’s 400,000 sq ft Joka mall, targeted for completion in 2026.
What to watch next
- Confirmation or revision of the mall’s expected 2026 completion
- Anchor-tenant signings and disclosed leased occupancy
- Tenant handovers and store-opening announcements
- Reported mall rental income against the expected ₹50 crore annual contribution
- Segment-level allocations within the ₹10,000 crore investment programme
The counter-case
The case against this reading — not reported by the source.
The ₹50 crore rental uplift is a forecast, not demonstrated income. Completing the mall in 2026 does not guarantee immediate stabilized occupancy or a full year of rent; delays, leasing incentives and operating costs could dilute returns. The ₹10,000 crore investment plan spans multiple property segments and should not be treated as retail expansion spending.
The source
First seen