Real Estate Giant DLF Forays into Health, Expands in Retail

Ahead of the IPO the real estate major is going ahead with next week, DLF has disclosed its new venture into the health sector and expansion in the retail segment with a set of 6 formats.

The company is set to close an agreement with Fortis Healthcare to set
up 31 hospitals in all its 200 acre townships. The project calls
for an investment of Rs.6000 crore and would cover cities like
Chennai, Bangalore, Jaipur and Kolkata.

The Fortis Speciality Hospitals would cover 2.15 lakh sq.ft of
space, providing for 250 to 400 beds at every location. Once
constructed by DLF, Fortis Healthcare would take over the operations
of the hospital.

In the world of retail, where DLF already has a strong imprint,
6 formats would be followed: neighbourhood shopping malls, down
town shopping districts, stand-alone stores, shopping centres,
destination malls and super luxury malls.

DLF has dedicated 44 million sq.ft of space to retail, of which
10 million sq.ft is already under construction in prime localities
in various cities.

By 2009, Delhi’s South Court in Saket, Noida’s Town Square and Gurgaon’s City Court would be operational, though the Mall of India in Gurgaon again would take a year more for completion.

The company’s
shopping malls in Courtyard, Saket, Promenade and Emporio in
Vasant Kunj and DLF Towers in Jasola, all located in Delhi, would be operational
by 2008.

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