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NEW DELHI: The country's largest realty firm, DLF, on Tuesday said that it would open four new shopping malls in the Delhi-NCR region before Diwali (mid-October) this year and is expecting a lower rent in its new malls than existing levels. “ We have cu rrently eight malls operating across India and we are now launching four new malls in Delhi-NCR before Diwali this year. Although occupancy in the new malls would be slow initially, we expect it to reach 100 per cent later,'' said Mr Arvind Nair, Managin g Director, DLF Retail Developers.

DLF Retail Developers, which is a subsidiary of DLF, constructs shopping malls. The company follows both sale and lease model for its retail space. “Although there has been some impact on rentals due to the downturn, we have not resorted to any renegotia tions in our operational properties. However, rents on an average would be lower in our new malls as compared to existing ones,'' Mr Nair said. – PTI

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