5 new-age retail concepts that can pick up in Dwarka Expressway

By Sanjeev Arora

The 27-km stretch of Dwarka Expressway that emanates from Kherki Dhaula (Gurgaon) and goes till Mahipalpur (Delhi) is the social and financial pulse of the NCR. Ten years back, when Dwarka Expressway was taking shape, many pundits speculated it as the future of Gurgaon. Today Dwarka expressway has get past the prognosis and has become a self-sustainable fast-growing urban neighbourhood in NCR.

Its rapid growth hasn’t been a flash in the pan but backed by solid structural transformation and infrastructure pivot. The region is a prime housing destination with an annual absorption of around 10,000- 13,000 units. Houses are mostly in the range of Inr 1.5 – 2 Cr. with a sizable new launch in the premium price bracket of ~Inr 4-5 Cr. This makes Dwarka Expressway primarily a higher mid-income market.

A visible appetite for modern retail

Dwarka Expressway’s (DXP) housing boom is feeding into the growth of an expansive commercial real estate in the region. As more and more people are shifting to the tranquil but modern neighbourhoods of DXP, the demand for shopping malls, arcades, mixed realty spaces, food courts, etc. are rising very fast.

Already numerous big malls, SCOs and arcades have entered the region including DLF Galleria, DLF SCO Plot 84, Gallexie 91, Metro high street-83, Elan Miracle, etc.

Dwarka expressway’s strategic location which places it in close proximity to IGI airport and international convention centre Dwarka (25- 30 mins) is further driving demand for modern retail spaces. Mentioned below are five newer retail formats that can see uptick in the coming time in the region.

F&Bs: There is a huge appetite for F&Bs in the region. As the population is rising, residents will prefer to eat and relax in the vicinity rather than driving long. The whole region is ripe for restrobars, fine dining joints, casual dining spaces, QSRs, bakeries, cafes and much more. There is ample headspace for both premium eateries as well as casual spaces.

Gaming Zones: Dwarka expressway, which is part of the NH-8 is perfect to open sporting formats such as turf cricket, pickle balls, paddles, etc. As the liveability is rising in these places, naturally people will look for weekend escapes and recreational facilities that goes beyond general food and entertainment. Opening fully functional sporting arenas can be an apt idea to start.

Water Parks & Amusements Parks: Compared to localities in Gurgaon such as MG road, Golf Course Road, Golf Course Extension Road, DXP still has open spaces. This makes it perfect for larger entertainment facilities such as water parks and amusement parks. This won’t just cater to the growing local populace, but also to residents from other parts of Gurgaon and nearby areas in Delhi.

Food and entertainment zones: Investing in casual and open food-cum-entertainment hubs in  DXP can be a prudent investment. It will be in sync with the requirements of the growing mid and higher mid-income populace in the region, looking out for more casual hangout spaces comprising diverse cuisines, food trucks, kiosks, fast-food centres and much more. There should also be other entertainment avenues such as gaming zones, video game parlours, outdoor sports, etc. The idea should be to give a more informal set-up for people to come and hangout in groups without denting much on the pocket.

Co-working cafes: Dwarka expressway is also seeing an influx of start-ups, small businesses, gig economy and freelancers, etc. Proximity to the airport, lower leasing rates (compared to other parts of Gurgaon) and excellent connectivity are some of the factors driving the uptrend. This is necessitating the demand for comfy cafes with co-working facilities, high speed internet, meeting spaces and basic entertainment catering to the need of new crop of business enthusiasts.

(The author is Director, 360 Realtors. Views are personal)