Published
Jun 24, 2019
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DLF to build India’s largest mall in Gurugram in a joint venture with Singapore’s GIC

Published
Jun 24, 2019

Indian realty developer DLF and Singaporean sovereign fund GIC’s joint venture plan to build India’s largest mall yet, the construction of which is scheduled to take over five years.

DLF will build a new mall in Gurugram with GIC


The DLF-GIC joint venture will build a mall on a 23 acre-large parcel of land owned by DLF in Gurugram, opposite its Cyber Park commercial venture. The retail and commercial-led mixed-use development titled “Down Town” will include a mall measuring over 2.5 million square feet which will make it India’s largest yet, two sources told the Economic Times.

"The retail mall will be part of this eight million square feet project that will also have component of serviced apartments, five-star hotel and commercial development,” a source told the Economic Times. “The project will be developed in two-three phases in more than five years." 

DLF and GIC first formed the joint venture in 2017 when GIC acquired K P Singh’s stake in the DLF rental business DLF Cyber City Developers. The joint venture is also currently working on a residential project in New Delhi. 

DLF runs a number of malls in India which focus on fashion, beauty, lifestyle stores, and entertainment such as food courts. The malls include DLF Mall of India in Noida and the luxury fashion mall DLF Emporio in Delhi. 

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