by Apparel Resources News-Desk
24-June-2019 | 2 mins read
India’s largest mall is coming up! Shopping won’t remain the same now as India’s real-estate builder DLF joins forces with Singapore’s sovereign wealth fund GIC to construct India’s largest mall in Gurugram spread over above 2.5 million square feet land under the ownership of DLF.
The mega retail and commercial venture will be labelled ‘Down Town’ and is going to be located opposite DLF’s Cyber Park commercial venture. The construction of the elaborate project by the alliance is planned to occur over the next 5 years.
“The retail mall will be a part of this 8 million square feet project that will also have component of serviced apartments, five-star hotel and commercial development,” a concerned source told the Economic Times.
He further said, “The project will be developed in two to three phases in more than five years.”
The project, which will be implemented by DCCDL (DLF Cyber City Developers Ltd.), is programmed to surpass the country’s current largest retail-commercial development – the 2.5 million square feet LuLu International Shopping Mall in Kochi and DLF’s own 2 million square feet DLF Mall of India.
The elaborate collaborative development aspires to be the one stop for all the shoppers and entertainment enthusiasts. It will host multiple retail brands concerning fashion, beauty and lifestyle with numerous food courts being the major crowd-pleaser sections.
The DLF-GIC joint venture came into action in late 2017 after the promoters of the real estate business KP Singh and his family sold their stake in rental arm DCCDL to the Singapore investment enterprise. Other projects under the joint endeavour include a 7-million square feet residential project near Central Delhi.
DLF currently has its mall in Noida as DLF Mall of India and the luxury fashion mall DLF Emporio in New Delhi.
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