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Real estate company DLF Ltd on Wednesday officially launched Mall of India in Noida, touting it as the first destination mall in the country.
“We are not looking at just Delhi-NCR. We are looking at it as the destination mall for the country. The location is very strategic as it is at the mouth of Noida. So it has the potential to reach a much larger catchment,” Pushpa Bector, Executive Vice-President, Head, DLF Mall of India, said.
The mall, built at an investment of ₹1,700 crore, is spread across 2 million square feet,with 40 per cent of the area dedicated to food and entertainment, including a 7-screen cinema.
Interestingly, DLF’s existing malls and retail space put together are 2 million square feet. With the launch of this mall, this doubles the retail footprint of the company.
“As much as 95 per cent of the space in the mall has been leased out. The mall had been soft launched on December 15, 2015. It has as many as 14 anchor partners,” Bector added.
According to industry estimates, the mall is expected to generate revenue worth ₹250 crore per annum for DLF.
The Mall of India project was delayed by one-and-a-half years due to the National Green Tribunal order of restraining the construction around 10 km area near Okhla Bird Sanctuary.
Last year, the government had reduced the area of eco-sensitive zone around the sanctuary giving relief to over 50 residential projects and this mall.
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