Mumbai: DLF plans to set up largest mall

Mumbai, June 10: Realty major DLF which is slated to mop up a whopping Rs 9,625 crore at the proposed price band of Rs 500 - Rs 550 per share when its initial public offering (IPO) opens for subscription tomorrow, today unveiled ambitious plans to set up the country's largest mall with nearly 40 lakh sq ft lettable area and a chain of multiplexes in major cities, which includes multiplexes in Mumbai, Chennai, Bangalore, Hyderabad, Chandigarh and Ludhiana.

It may be recollected here that the country's largest builder DLF, has worked out an ambitious strategy to expand its retail business covering the entire spectrum of the sector, by earlier entering into a tie-up with Trent, the retail business of the Tata Group, to partner across their intended retail formats, occupying a minimum of 1,50,000 sq ft feet in each mall.

Besides, DLF also has an memorandum of understanding (MoU) with Metro Cash and Carry, to identify suitable retail spaces in various locations across the country.

''The size of our malls is also increasing due to consumer demand for greater retail diversity and we believe that in the future, size will be an important determinant of the success of a mall,'' an official statement said, revealing it's business strategy for the immediate future.

India's largest mall till date, which is christened the Mall of India will come up at Gurgaon in Haryana, on a 32.87 acre land. It is designed by Jerde Partnership Inc, an international firm of architects. The under-construction Mall of India has a total lettable area of around 39 lakh square feet and a total land area of 32.87 acres, DLF sources added.

UNI