New Delhi: Realty major DLF has started construction of its new 26-27 lakh sq ft shopping mall in Gurugram at a cost of around Rs 2,200 crore as part of its expansion plan amid a surge in retail consumption after the Covid pandemic.
Currently, DLF has a retail footprint of approximately 42 lakh sq ft, comprising nine properties including malls and shopping centers primarily in Delhi-NCR, with approximately 3.4 lakh sq ft of the retail portfolio under DLF Limited and the rest under DLF Cyber. The city is under developers. Ltd. (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
DLF Vice President and MD (Rental Business) Shriram Khattar said on the sidelines of the CII conference, "We have started the construction work of 'Mall of India' in Gurugram. The total size of this mall is 26-27 lakh square feet." th real estate sector.
When he was asked about the investment, he said that it would be around Rs 2,200 crore.
Khattar said the company is excited about the growth of the retail sector, which will increase demand for retail space from retailers.
He highlighted that the retail sector has made a rapid comeback after the COVI pandemic and shopping malls have seen strong growth in footfall and sales.
DLF is building a premium mall of about 6 lakh square feet in Goa. It is also developing high-street shopping centers near its housing projects to cater to the needs of people living nearby. It is already constructing shopping centers in DLF Phase 5, Gurugram and Moti Nagar, Delhi."One mall in Goa and two shopping centers in Gurugram and Delhi will be operational in the next 18 months," he said.
Addressing the event, Khattar said the retail leasehold in malls and high streets was over 7 million (70 lakh) sq ft by 2023, adding, "The brand is actively pursuing new format experiential stores and international merchandise offerings with ambitious, enriching Attracting customers”.
“2023 saw an uptick in consumption trends and stabilization in cinemas, followed by healthy growth in footwear, travel and leisure, QSR and jewelery and watches,” he said.
DLF Group is primarily engaged in the business of development and sale of residential properties (development business) and development and leasing of commercial and retail properties (annuity or rental business).
It has developed more than 158 real estate projects and developed area of more than 340 million square feet.The group has an annual portfolio of over 4 million square feet.
DLF Group has land bank to develop 215 million sq ft in residential and commercial sectors.
Currently, DLF has a retail footprint of approximately 42 lakh sq ft, comprising nine properties including malls and shopping centers primarily in Delhi-NCR, with approximately 3.4 lakh sq ft of the retail portfolio under DLF Limited and the rest under DLF Cyber. The city is under developers. Ltd. (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
DLF Vice President and MD (Rental Business) Shriram Khattar said on the sidelines of the CII conference, "We have started the construction work of 'Mall of India' in Gurugram. The total size of this mall is 26-27 lakh square feet." th real estate sector.
When he was asked about the investment, he said that it would be around Rs 2,200 crore.
Khattar said the company is excited about the growth of the retail sector, which will increase demand for retail space from retailers.
He highlighted that the retail sector has made a rapid comeback after the COVI pandemic and shopping malls have seen strong growth in footfall and sales.
DLF is building a premium mall of about 6 lakh square feet in Goa. It is also developing high-street shopping centers near its housing projects to cater to the needs of people living nearby. It is already constructing shopping centers in DLF Phase 5, Gurugram and Moti Nagar, Delhi."One mall in Goa and two shopping centers in Gurugram and Delhi will be operational in the next 18 months," he said.
Addressing the event, Khattar said the retail leasehold in malls and high streets was over 7 million (70 lakh) sq ft by 2023, adding, "The brand is actively pursuing new format experiential stores and international merchandise offerings with ambitious, enriching Attracting customers”.
“2023 saw an uptick in consumption trends and stabilization in cinemas, followed by healthy growth in footwear, travel and leisure, QSR and jewelery and watches,” he said.
DLF Group is primarily engaged in the business of development and sale of residential properties (development business) and development and leasing of commercial and retail properties (annuity or rental business).
It has developed more than 158 real estate projects and developed area of more than 340 million square feet.The group has an annual portfolio of over 4 million square feet.
DLF Group has land bank to develop 215 million sq ft in residential and commercial sectors.
