Home / Business and Economy / DLF Unveils Lavish Goa Mall: 75% Leased!
DLF Unveils Lavish Goa Mall: 75% Leased!
19 Sep
Summary
- A seven lakh sq ft mall will open in Goa by March 2027.
- DLF projects over ₹150 crore in annual rent from the mall.
- Seventy to seventy-five percent of the mall space is already leased.
DLF is poised to launch a substantial seven lakh sq ft premium shopping mall in Goa by March 2027, representing an investment of approximately ₹500 crore. This ambitious project is projected to yield annual rental income exceeding ₹150 crore.
As of the article's publication, the mall has already secured leases for seventy to seventy-five percent of its available space. Notable tenants include PVR, which will operate a five-screen cinema, and Shoppers Stop.
The development strategy for the Goa mall prioritizes the local Goan population over tourist traffic, according to Pushpa Bector. Its location in Panaji offers convenient access to both North and South Goa, maximizing the local customer base.
This Goa venture is one of three retail projects DLF is operationalizing this fiscal year. The company recently opened Midtown Plaza in Delhi and Summit Plaza in Gurugram. DLF maintains a preference for developing and retaining retail assets, viewing a retail REIT as a possibility only under compelling circumstances.
DLF's rental business, DLF Cyber City Developers (DCCDL), is a partnership with Singapore's GIC. DCCDL is responsible for developing and managing office, IT/ITeS, technology parks, and retail assets.
