This real estate company will invest 6,000 crores in Gurugram, know what the company will build with such a big investment?
The rental solutions providing unit of real estate company DLF will invest around Rs 6,000 crore on the construction of 75 lakh square feet of office space and retail zone in Gurugram. DLF Cyber City Developers Limited (DCCDL) is a joint venture between DLF and Singapore’s sovereign wealth fund GIC. DLF has a stake of about 67 percent in it. In its latest investor presentation for the October-December (third) quarter of the current financial year, DLF said that its rental solutions providing unit DCCDL has started construction of 55 lakh square feet of ‘Grade A Plus’ office space in the new phase of its ultra-premium commercial project ‘DLF Downtown, Gurugram’. Construction of ‘DLF Mall of India’ started
Apart from this, DCCDL has also started the construction of ‘DLF Mall of India’ in Gurugram, which has a total area of 20 lakh square feet. So far, construction of 37 lakh square feet area has been completed. According to sources, the total investment in the construction of this office complex and shopping mall will be around Rs 6,000 crore. The company spokesperson declined to comment on this. DCCDL, which owns a large part of the rental assets of DLF Group, has an operational rental portfolio of 4.04 crore square feet. Out of this, 3.64 crore square feet area is office space and 40 lakh square feet retail real estate.
Big bet on residential too
Along with commercial, DLF is also betting big on residential projects. The company’s ultra luxury project ‘The Dahlias’ in Gurugram was sold out immediately. In October last year, DLF launched a 17-acre ultra-luxury residential project ‘The Dahlias’ at DLF Phase 5 in Gurugram, comprising 420 apartments and penthouses. The minimum size of an apartment is 10,300 sq ft.
