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