Country's largest real estate developer DLF Ltd will develop eight shopping malls under leasing format in the metros this fiscal, besides commencing w operation in four malls in the year 2008.
"We are thinking of launching seven-eight new shopping w malls in the metros in this financial year," DLF Retail ing w Developers Sr General Manager (Marketing) Manish Sawhney told w reporters on the sidelines of Pure and Play Retail Summit.
DLF Retail only leases out space in its properties.t.old w The company would also open four shopping malls in the d w current year, of which three would be in Delhi NCR and one in w Chandigarh, he added.
"Chandigarh mall will be smaller one while the three in w malls in the Capital will have three-to-four lakh sq ft of in w leasable area per mall," he said.
On investment front, without divulging details, he said, w "Leaving the price of the land, the construction cost is id, w around Rs 3,000-4,000 per sq ft.
When asked if the company would also concentrate on id, w smaller cities, he said, "Our primary focus is on the metro w cities like Bangalore, Chennai, Hyderabad and Delhi. As we w grow, we will also look at smaller cities in future... We are w right now exploring all opportunities," he said.
Also, when asked if the company has signed any big are w retailers, Sawhney said, "Rigth now we are in discussion with w many big retailers, but nothing has been finalised yet,".
DLF Retail currently has five operational malls. DLF Retail currently has five operational malls.
Source:Economic Times 1stJuly2008.
