Apple has signed a 10-year, 10-month agreement for 12,616 sq ft in Sky City Mall, Borivali East, roughly 13 miles north of Apple BKC. The developer granted a 10-month rent-free period; monthly rent of about US $21,000 starts afterward.
Revenue-sharing incentives sweeten the deal
For the first 42 months Apple will remit 2 % of quarterly revenue to the landlord, rising to 2.5 % later. Brokers say these blended terms are common for marquee tenants. However, the long holiday highlights how keen the mall is to land a global draw.
Strategic reach into fast-growing suburbs
Sky City sits on the busy Western Express Highway and links to rail and metro lines. Consequently, shoppers from Mumbai’s booming northern suburbs will reach an Apple Store without the long trip to the city’s southern tip.
Part of an accelerating India rollout
Reports point to additional stores in Bengaluru, Pune, and a second Delhi site, with four openings targeted by late 2025. Even today, Apple BKC and Apple Saket already generate almost 20 % of the firm’s Indian sales, despite hundreds of third-party resellers still operating.
Manufacturing and retail now move in lockstep
Tata and Foxconn continue to expand local assembly, and roughly one in five iPhones now ships from India. Therefore, a denser retail grid will reassure buyers that service and support keep pace with rising production volumes.
Opening timeline remains fluid
Permits, interior fit-outs, and staff hiring normally take 12 to 18 months. Hence, industry watchers expect the Borivali store to open sometime in 2026. Until then, Apple BKC will remain the city’s lone company-owned outlet. Yet soon a northern sibling will greet the next wave of Indian customers and shorten the distance to premium service.
