Large size, tenant & infra mix needed for success of malls: DLF
Aug 03, 2013
Source : The Economic Times

 

DELHI: Large shopping malls with right mix of tenants and good infrastructure would have a greater chance of success going forward, a top official of realty major DLFBSE -6.93 % said today.

"Going forward, game changer will be size of the shopping malls. Sizes are becoming an important factor," DLF Managing Director (Rental Business) Ramesh Sanka said at a conference.

The size of shopping malls, except those which caters only to luxury retail, should be at least a million sq ft, he added.

"Brand makes the mall a success. Customers want right mix of tenants," Sanka said, adding that infrastructure like access to mall and parking place too play an important role.

Lifestyle International Managing Director Kabir Lumba said that affordability of retail space is also key factor along with location, size and tenant-mix. "Enough space is available, not lot of quality space."

Realty firm Ambience Group Chairman Raj Singh Gehlot welcomed the FDI in multi-brand retail, but said the country needs to have space for retail.

However, he said that most of the developers are not interested in developing mall. Sanka of DLF said that everyone is excited with FDI in retail, but said large amount of balance needs to be created.

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