Pacific Group opens retail mall in Delhi on Nov 15

Realty firm Pacific India expects about Rs 40 crore of rental income per year from its shopping mall at Dwarka in the national capital, that will become operational from Friday, its ED Abhishek Bansal said. “Dwarka is the largest sub-city of Asia. However, it lacked single organised retail shopping areas and people had to go out of Dwarka for all their needs and for entertainment purposes such as movies, shopping, etc. The mall D21 fills in all of these gaps of their day-to-day activities and also help cheer up their weekend plans,” Bansal said. Asked about the rental income, he said the company expects a rent of over Rs 40 crore annually from this project. The company has to pay Rs 15 crore annually to DMRC during the 25-year lease period. The project, comprising 3 lakh sq ft mall and around 600 car parking, is located at Dwarka Sector 21 metro station. Pacific India has fully leased out retail space in the mall to apparel and gadget brands like Lifestyle, Max, Big Bazaar, Home Centre, Reliance Trends and Reliance Digital. The D21 mall will also have PVR’s six-screen multiplex.