Real estate developers betting on Shopping malls

An ambitious pipeline of high end shopping malls are being built by the top notch real estate developers as they believe that it will cater to the buyers and retailers of luxury brands. The country’s largest real estate developer by market value, DLF ltd is already running the luxurious DLF Emporio Mall in New Delhi and it is all set to build two more projects in the National capital region. 

These two Malls are likely to be operational by the year 2013-2014, one in the outskirts of Gurgaon and second one in Chanakyapuri. Dina Madhurkar, vice president of DLF Emporio said in an interview that demand and interest in Indian luxury market which is coming from countries like France, Singapore, Italy and United States is increasing and they are unable to accommodate such brand in DLF emporio as it is fully occupied. The two malls which DLF ltd is shortly going open will enable the buyers and retailers of international brand to shop for international brand. It is expected that the new mall in Gurgaon will be 20 to 30 times larger than DLF Emporio. It is 300,000 square feet in size. The property in Chankyapuri will be a small luxury retail space which is about 60 per cent size of Emporio. It will comprise new brands planning to enter into India and already existing in India.