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Filed Pursuant to Rule 424(b)(7)
Registration No. 333-05565
PRICING SUPPLEMENT NO. 9, dated July 22, 1997
This Pricing Supplement is used in reliance on Rule 434 under the Securities
Act of 1933, as amended (the "Act"), and supplements the Prospectus dated June
18, 1996 and the Prospectus Supplement dated August 19, 1996. For purposes of
Section 10(a) of the Act, the final prospectus relating to the securities
offered hereby consists of this Pricing Supplement, the Prospectus and the
Prospectus Supplement and the documents incorporated therein by reference.
$150,000,000
Developers Diversified Realty Corporation
Medium-Term Notes
Senior Fixed Rate Notes
Due from 9 Months or More From Date of Issue
Principal Amount: $10,000,000
Issue Price: 100%
Original Issue Date: July 25, 1997
Maturity Date: July 25, 2007
Interest Rate: 7.02%
Agent's Commission: .600%
Agent's Capacity: Principal
Net Proceeds to Company: $9,940,000
Agent: Goldman, Sachs & Co.
CUSIP: 25159N AS4
This Pricing Supplement supplements the Prospectus and Prospectus Supplement
with respect to both (1) the initial offering of Medium-Term Notes and (2)
market-making transactions in Medium-Term Notes by Goldman, Sachs & Co.
