Italian fashion brand OVS has leased a retail space of over 11,000 square feet at Oberoi Sky City Mall in Borivali, Mumbai. The deal reflects strong demand for quality retail space in Mumbai’s suburban areas.
Property registration details show the leased space measures about 11,158 square feet. The store is located on the ground floor of the mall. The lease period is five years. It starts in March 2026 and ends in February 2031. A lock-in period of nearly 30 months is included in the agreement.
The lease follows a step-up rent structure. Monthly rent begins at around ₹41.8 lakh in the first year. The rent will increase gradually during the lease term. In the final two years, monthly rent is expected to reach about ₹51.3 lakh. The agreement also includes a revenue-linked clause. Rent may be charged at 10 percent of monthly store revenue, if higher. A security deposit has been paid as part of the lease.
OVS is expanding its retail presence in India. The brand is focusing on large malls with steady footfall. Premium retail locations remain a key part of its growth strategy. The Borivali lease supports this expansion plan.
Oberoi Sky City Mall is part of a large mixed-use development by Incline Realty Pvt Ltd, a subsidiary of Oberoi Realty. The mall opened to the public in early 2025. It offers over 12 lakh square feet of gross leasable area. The property includes retail stores, food and beverage outlets, entertainment spaces, and lifestyle brands. Direct metro connectivity improves access for visitors.
Also Read: Automatic Property Mutation System Launched in Karnataka to Simplify Land Transactions
