DLF expects to open 7 lakh sq ft Goa mall by March next year

DLF is expected to make its retail debut in Goa with the 7 lakh sq ft mall set to open in February-March next year

DLF is expected to make its retail debut in Goa with the 7 lakh sq ft ‘DLF Promenade Goa’ mall in Panjim set to open in February-March next year, a top company official said on September 18.

DLF is expected to make its retail debut in Goa with the 7 lakh sq ft mall set to open in February-March next year, a top company official said on September 18. (Photo for representational purposes only)

“Promenade Goa is planned primarily for Goans and to give them quality experience of shopping , F&B and entertainment,” DLF's Vice Chairman and MD (Rental Business) Sriram Khattar said on the sidelines of the CII real estate conference held in the capital.

"We will open a shopping mall in Goa in February-March. The fit-outs will start next month," he said, adding "We have invested around ₹500 crore to develop this mall.

“We have already leased around 75% of the mall’s retail space and expect to fully lease it within the next few months,” he said.

Pushpa Bector, Group Executive Director and Business Head, DLF Retail, said on the sidelines of the CII real estate summit that the mall will house nearly 220 brands, with Shoppers Stop and PVR among the key tenants occupying some of the largest spaces. The four-storey mall will also feature a five-screen multiplex and a food court.

"The mall will help create several job opportunities for the local population," Bector said.

The Goa retail property is being developed as DLF Promenade Goa, earlier known as DLF Avenue Goa. According to the Goa RERA project details, the project is located at Plot No. 35 of EDC Patto Plaza in Panaji and is registered as a commercial project. The project has a total land area of 18,120 sq m and a total covered area of 9,053.72 sq m, while the project details list 201 open parking spaces.

Recently, DLF opened 'DLF Midtown Plaza', comprising more than 2 lakh square feet of area, at Moti Nagar in Delhi. It has also soft-launched 'DLF Summit Plaza' in Gurugram covering around 4.8 lakh square feet of space, of which more than 4 lakh square feet is retail, and the remaining is coworking space.

At present, DLF Group has around 10 retail properties, including The Mall of India Noida, with a portfolio of around 5 million square feet of operational space. The company is developing a 2.5 million square feet shopping mall in Gurugram, expected to be operational in 2029. The company's malls house over 1200 international and domestic brands and attract more than 70 mn shoppers annually.

The bulk of the commercial assets (office complex and retail spaces) are under DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.

Retail leasing rises 23% QoQ to 2.4 mn sq ft in Q2 2026: Report

India’s retail real estate sector maintained its growth momentum in Q2 2026, with gross leasing volume (GLV) reaching 2.4 million sq ft (MSF) across the top eight cities, according to Cushman & Wakefield’s Q2 Retail Market Beat Report. This was a 23.2% quarter-on-quarter (QoQ) and 17.6% year-on-year (YoY) increase, reflecting sustained occupier demand despite supply constraints.

Total leasing in H1 2026 stood at 4.35 MSF, up 3.1% from H1 2025, indicating steady growth across key retail markets.

No new Grade A mall supply was added for the second consecutive quarter. However, mall leasing remained strong, supported by continued absorption in projects completed during H2 2025 and sustained retailer preference for organised retail formats.

Limited availability of premium mall space and rising rents also prompted retailers to explore opportunities beyond Grade A assets, including select Grade B developments. Malls accounted for 51.3% of total leasing at 1.23 MSF, registering 33.4% QoQ and 21.9% YoY growth.