Retail News Update

Buoyed by the success of organised retail in the country, real estate industry leader DLF plans to invest Rs 16,000 crore over four years to develop about 20 large shopping malls across the country.

“Going forward, shopping malls will be an area of important focus for DLF. This will help us to make the maximum leverage of the retail boom in India,” DLF Retail managing director Arvind Nair said.

He, however, did not divulge investment to be made in development of 22 million sq ft of shopping mall space. According to a company source, DLF is planning to develop around 20 large shopping malls in the next three-four years, which would entail an investment of Rs 16,000 crore.