Real estate major DLF plans to open shopping plazas near two of its residential complexes, Pushpa Bector, senior executive director and business head at DLF Retail, said on Tuesday.
“These will be almost like a brick-and-mortar answer to quick commerce. Want something quickly? Walk down and in 10 minutes you will be able to pick up what you want,” she said.
The company will open Midtown Plaza near DLF Capital Greens at Delhi’s Moti Nagar and Summit Plaza in Gurugram’s Phase 5, which has the company’s premium projects, including The Crest.
These open-air plazas will have retail space for shops, food courts, and hypermarkets as well as co-working space. “Both of these would open in this financial year,” Bector said.
The Midtown Plaza will be spread across 200,000 square feet. Around 75-80% of the project has already been leased. The Summit Plaza would be spread across 480,000 sq ft, of which over 400,000 sq ft is retail and the rest is co-working space.
The company said it will also open two new malls – Mall of India in Gurugram and Promenade in Goa – as it remains bullish on the growth of organised retail in the country.
Promenade in Goa would be the city’s largest mall comprising 700,000 sq ft of retail space with over 300 stores.
Bector said the organised retail sector has bounced back sharply post-pandemic and there has been a consistent growth in footfalls in shopping malls.