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DLF to make Rs 2,200-cr investment for shopping mall in Gurugram

Monday, 15 Apr 2024
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Real estate development firm DLF has started the construction of its new shopping mall in Gurugram, Haryana with an investment of around Rs 2,200 crore as part of its expansion plan.

The 'Mall of India' in the city will span 26-27 lakh sq. ft. in area. The project is led by the higher demand for retail space from retailers as a strong growth in footfalls and sales in shopping malls is witnessed.

Moreover, DLF is constructing a premium mall in Goa of around six lakh sq. ft., along with high-street shopping centres near its housing projects, which could be operationalsied in the next 18 months. It is already constructing shopping centres at DLF Phase-5, Gurugram and Moti Nagar in Delhi. The retail leasing across malls and high streets stood at over seven million sq. ft. in 2023, showcasing the preference for new formats, experiential stores and international merchandise offerings.

At present, DLF has a retail footprint of around 42 lakh sq. ft. comprising nine properties, mainly across Delhi-NCR. Around 3.4 lakh sq. ft. of retail portfolio is under DLF while the rest is under the DLF Cyber City Developers (DCCDL), a JV between DLF and Singapore sovereign wealth fund GIC.

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