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Last Updated : Sep 25, 2019 06:18 PM IST | Source: Moneycontrol.com

DLF's revamped shopping mall to allot 38% space for F&B

DLF Shopping Malls, comprises of 5 properties across Delhi-NCR and Chandigarh namely DLF Mall of India.

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DLF, which recently revamped its mall DLF Place in Saket, has allotted 38 percent space only for food and beverage, said Pushpa Bector, Executive Director, DLF Shopping Malls.

Earlier, the mall had allotted merely 13 percent for F&B.

She was speaking on the sidelines of a two-day India Retail Forum 2019 held in Mumbai.

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The revamped mall which will be called DLF Avenue, Saket, has a gross leasable area of 516,000 sq.ft.

The mall, earlier known as DLF Place Saket, had closed down earlier this year for a complete revamp. The mall in its new-avatar will open in the next 45 days, Bector said.

"We have tweaked our mall model for millennials and we have allotted 38 percent space to 30 curated F&B," Bector said.

As part of the new development, the mall has divided F&B segment in three zones—ground, first and second.

Usually F&B is dedicated to one floor in most of the malls.

Apart from the F&B, the mall will also have a theater and a co-working space ‘We Work.’

For the revamped mall, DLF has signed slew of new lease such as ‘Uniqlo’ which will open athleisure offerings such as Under Armour and Go Sports.

Bector said Uniqlo store which is spread over 30,000 sq.ft will open from Nov 1.

Currently, 95 percent of the Avenue mall has been leased.

Without revealing numbers, Bector said that their rental income has doubled in the renewed mall.

On question of whether DLF is planning to renovate any other malls, Bector said they have few greenfield projects which will be announced at the “right time.”

DLF Shopping Malls, comprises of 5 properties across Delhi-NCR and Chandigarh namely DLF Mall of India.
First Published on Sep 25, 2019 06:03 pm
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