DLF plans Rs 17 bn investment in Gurgaon shopping mall

The real estate firm DLF announced its plans to commence construction on a new shopping mall in Gurugram, spanning 25 lakh sq ft, during this quarter. The company intends to invest approximately Rs 17 billion in this project, marking a strategic move to expand its business in response to the growing demand from retailers. It was stated that the company already possessed the required land for this endeavour. In addition to this upcoming venture, DLF is also actively involved in the development of high-street shopping centres situated near its housing projects, catering to the needs of the local residents. Presently, the company is in the process of constructing these shopping centres in DLF-Phase V, Gurugram, and Moti Nagar, Delhi. Encouraged by the robust increase in foot traffic observed in shopping malls within the retail sector, DLF has undertaken the construction of a premium mall in Goa, covering an area of around six lakh sq ft. DLF presently boasts a retail footprint spanning approximately 42 lakh sq ft, encompassing nine properties primarily located across Delhi-NCR. Out of this, 3.4 lakh sq ft belongs to DLF directly, while the remainder is under the ownership of DLF Cyber City Developers (DCCDL), a joint venture between DLF and the Singapore sovereign wealth fund GIC. The group, actively engaged in the development and sale of residential, commercial, and retail properties, has successfully completed more than 158 real estate projects. Additionally, it possesses extensive land banks, enabling the development of a vast expanse measuring 215 million sq ft across both residential and commercial segments.