Press Trust of India / New Delhi August 29, 2006 

Real estate major DLF is planning to invest Rs 800 crore in the next two years to develop an integrated commercial and retail complex spread over 3.18 acres at Jasola in the national capital.

DLF, which is coming out with an IPO to raise more than Rs 10,500 crore and is awaiting Sebi approval, today performed the Bhumi Poojan ceremony to start the construction of the project - DLF Towers.

"We are developing 8.35 lakh sq ft of office-cum retail space at Jasola. The project cost is Rs 800 crore, which includes the land cost," Ajay Khanna, executive director (retail) of DLF, said.

Bullish on the project, he said studies have shown that retail spending tends to be higher at an integrated complex comprising office-cum-retail space.

The project, which will have seven lakh sq ft of commercial and 1.35 lakh sq ft of retail space, would be operational in two years. The company, which got two plots of 1.59 acres each at Jasola District Centre from Delhi Development Authority auction eight months back, has already sold out all the spaces, Khanna said.

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