DLF to open Rs. 300-cr Emporio Mall in Delhi by May 2016.

Realty major DLF will be opening its sixth mall in Delhi-NCR by May next year at an investment of Rs. 300 crore.

“We are already in the process of completing another mall in Delhi called the Emporio at Chanakyapuri in Central Delhi.

It's a smaller mall and it should be open by next May,'DLF chief executive for rental business, Sriram Khattar told PTI here over the weekend.

Besides, the Gurgaon-based developer will be opening the Rs. 1,700-crore 'Mall of India' in Noida by November this year.

The company claims that the 2 million sq ft mall will be the biggest in the country.

'We launched the project in 2012 and now are set to open it. By October-end, we are set to open the cinemas and between November 20 and 27 will be the grand opening,' DLF senior vice-president & head of leasing and mall management, Pushpa Bector said.

The 'Mall of India' has a leasable area of about 2 million sq ft and DLF has leased over 90 per cent of this already, she claimed.

It will have over 450 retail units, a seven-screen cinema, and a food court with about 1,000 seats.

'At the Mall of India, we have got 40 per cent of space dedicated to food and entertainment,' Bector said, adding that the new property will have 22 casual dining restaurants.

The country’s largest developer is expecting Rs. 200 crore rental income per year from this mall and expects it to break-even in five to six years.

Even though many mall developers are struggling with dwindling footfalls and revenues, Khattar said revenue growth for DLF has been 10-12 per cent.

DLF said if it has to expand, it will only look at tier I cities for now.


HBL