Real estate giant DLF has put its Mall of India project back on the drawing board after cash-crunch and falling rentals forced the company to shelve the 4.5 million square feet project in Gurgaon, reports Mint. Mall of India was proposed to be the biggest mall in the country.
DLF is now reworking the project dynamics. The developer is exploring options such as reducing the size of the mall or building a hotel and office space besides the mall, the report further added.
The report further quoted a DLF office without disclosing the name t “Construction is on at the project, but at a very slow pace. It is now back at the drawing-board stage and we are looking at many options for the project. We need to utilize the land somehow.”
Currently, DLF has eight operational malls in New Delhi and its suburbs.
— IndiaRetailing Bureau