Realty major DLF is all set to revamp its DLF Place mall in south Delhi’s Saket. The new version will not only see new brands, but the mall will also get a new identity with a change in name. The refurbishing process will begin early next year.
Around ₹50 crore will be spent in revamping the mall, said Sriram Khattar, Managing Director, Rental Business, DLF Ltd.
“The mall will be closed to the public from February for a period of six months. The renovated mall will reopen on August 1, 2019,” he added.
Market sources said that post-renovation, the mall would also host Japanese apparel retailer UNIQLO’s first store in the country.
After DLF Place, the company also plans to revamp DLF Promenade and luxury fashion mall Emporio.
Apart from revamping, the retail segment of the Gurugram-headquartered firm is also on an expansion spree. The company will expand its base outside the Delhi-NCR market.
“The company is evaluating two markets outside Delhi. One of the places that the company is planning to enter is Goa, because of the huge potential there,” said a person familiar with the development.
Talking about the current status of the retail segment, Khattar said, “The segment is showing signs of revival. The festive season has seen decent growth and we are witnessing a renewed demand compared to previous quarters.”