DLF, India's largest real estate company, is expanding its footprint in the retail sector with the construction of the eagerly anticipated Mall of India in Gurugram. With a projected investment of approximately Rs. 1,700 crores, this ambitious project will result in a massive 25 lakh square feet shopping mall. DLF already owns the land for this development, and the construction is set to begin this year. Despite the challenges posed by the COVID-19 pandemic, DLF sees potential in the resurgence of gyms, cinemas, malls, and shopping centers, and is well-positioned to meet the demand for organized retail shopping with its strategic land investments.
DLF, India's largest real estate company, boasts an extensive portfolio encompassing residential, commercial, and retail properties across 15 states and 24 cities. At the helm of DLF is Rajiv Singh, the wealthiest figure in India's real estate industry. DLF, short for Delhi Land and Finance, holds the prestigious title of being India's foremost commercial real estate developer. Its retail footprint spans a sprawling 42 lakh square feet, comprising nine properties, including malls and shopping centres spread across the Delhi-NCR region.
The eagerly anticipated Mall of India, located in Gurugram, is set to commence construction this year. DLF already owns the land, and the projected investment for construction stands at approximately Rs. 1,700 crores. This ambitious project will result in a colossal 25 lakh square feet shopping mall in Gurugram, marking a substantial expansion in DLF's retail presence.
DLF Group primarily engages in the development and sale of residential properties while also leasing commercial and retail properties. With an impressive track record of 158 real estate projects and a staggering 340 million square feet of developed space, the company also manages an annuity portfolio exceeding 42 million square feet. DLF's strategic land banks, totalling approximately 215 million square feet, position the company for further expansion.
Expanding its real estate portfolio, DLF has embarked on the construction of two shopping malls—one in Gurugram and another in Goa. Renowned architects have already commenced the design phase, and DLF's solid reputation has garnered strong interest from retailers. The upcoming Gurugram mall is poised to attract top global brands, enriching the shopping experience for customers.
Despite the setbacks inflicted by the Covid-19 pandemic on the real estate market, a return to normalcy has breathed new life into gyms, cinemas, malls, and shopping centres. This resurgence augurs well for organized retail shopping, creating a demand for more such outlets within malls and shopping centres. DLF, leveraging its strategic land investments, is well-positioned to meet this demand by constructing the Gurugram shopping mall, which promises to host an array of coveted international brands, catering to the desires of discerning customers. The future for organized shopping appears exceedingly bright.
Advertisement
Facebook
Whatsapp
