India: DLF Retail Developments to Enter Petrol Retail Market
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Thursday, 18 September 2008 |
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DLF Retail Developers Ltd, an arm of India’s largest real estate
company, plans to put up petrol retail stations and auto servicing
centres at three of its mall developments.
The decision, according to Arvind Nair, managing director of DLF
Retail, is to differentiate and provide a wholesome shopping experience
to Indian households. "We are currently in talks with public and
private oil companies to set up these services in our malls. The
facility will be there only in the large developments branded as Mall
of India," said Nair.
DLF Retail is currently developing 11 mall projects across 8 cities in
the country. The total area under development is around 10 million
square foot. The three malls that will feature the aforesaid facility
are located in Gurgaon, Noida and Bangalore. The total area under
development across these 3 malls is about 7.5 million square
foot. When questioned about total investments being pumped into
the 11 mall developments, Nair restricted his answer to quite
significant.
On the timeframe for signing up the partner for gas stations and auto
servicing centres he said that the management should be in a position
to conclude it by December 2008. "It need not necessarily be with
just one company though," said Nair.
PetrolWorld 170908 Source : DNA
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