India’s largest destination mall ‘DLF Mall of India’ launched in Noida
Realty major DLF on Wednesday announced the launch of its biggest mall here built with an investment of Rs.1,800 crore.
“DLF Mall of India is our largest in terms of area and investment both. Spread over two million square feet, the mall has been built with an investment of Rs.1,700-1,800 crore,” Sriram Khattar, CEO, DLF Rental Business, said.
The mall, launched in August 2012, had its soft launch in mid-December 2015.
The DLF Group is expecting revenues to the tune of Rs.250 crore from the mall by 2017-18, a source in the company said on condition of anonymity.
DLF’s Noida mall, which is 95% leased out and will have a total of 330 brands, is the second mall to be launched in the National Capital Region (NCR) in the month of April, after Logix Group opened the 0.5 million sq. ft Logix City Center in Noida’s Sector 32. NCR gets two new shopping malls after almost two years, during a period when the real estate sector has been battling its worst-ever slowdown.
“With this, we have six operational malls. A boutique, uber-luxury mall is scheduled to open at the end of this year. We are continuously working on the superior experience we want to give to our customers in our malls,” said Sriram Khattar, chief executive, rental business, DLF Ltd.
DLF, India’s largest developer by market value, is adding a new retail property at a time when it is consolidating its retail portfolio.
DLF is India’s largest real estate developer with projects spread pan India. DLF has over 60 years of track record of sustained growth, customer satisfaction, and innovation. From developing 22 major colonies in Delhi, DLF is now present across 15 states in 24 cities in India. DLF forayed in retail in the year 2000 and delivered successful projects like DLF promenade, DLF Emporio, DLF Place Saket and DLF City Centre Chandigarh.