Buoyed by a million or so footfalls each month at its two premium properties in the national capital region – the Promenade and the Emporio – DLF is planning to set up another luxury mall in the Delhi/NCR region, reports IndiaRetailing.

Pushpa Bector, senior vice president with DLF Utilities who also heads the property, said: “We are very happy with the performance of DLF Promenade and are planning to set up another such mall with high-end premium brands in the Delhi/NCR region. We are going to formally announce this in the next few months. We have got land banks at the right places for this.” She declined to give further details.

Bector said the Indian mall market is a good one provided developers pursue a long-term vision and are willing to invest in the regular maintenance and upkeep of their properties. She stated: “To be successful, mall developers have to actively try to grow the market. India is not a place where you can develop something and then expect it to automatically do well. Developers have to take an intensive, long-term approach and organize initiatives with their retail partners to ensure that business of every stakeholder grows.”

In the metros, there have been some pockets which have experienced erratic and irrational growth in the number of malls but that phenomenon has stopped now, Bector said. “The mall growth happening in India now is quite well researched and modulated,” she added.

Source: February 16, 2012