support@headlinenews360.com
DLF Investment in Gurugram: Real estate company DLF’s rental arm will invest about Rs 6,000 crore to make an office and retail space spread over 75 lakh square feet in Gurugram. Through this, efforts will be made to fulfill the demand for top quality green commercial property. DLF Cyber City Developers Limited (DCCDL) is a joint venture between DLF and Singapore’s Sovereign Wealth Fund GIC, with DLF about 67 per cent.
Work of becoming DLF mall also started in Gurugram
In the third quarter of FY 2024-25, in its investor presentation, DLF said that his Rental Arm has started the work of creating a grade a plus office space spread over 5.5 million (55 lakh) square feet in the new phase of its ultra-pramium commercial project ‘DLF Downtown, Gurugram’.
Apart from this, DCCDL has also started the work of creating DLF Mall of India in Gurugram, whose total area is 20 lakh square feet. So far, work has been completed up to 3.7 million (37 lakh) square feet area. According to the ET report quoting sources, about Rs 6,000 crore will be spent to build this office complex and shopping mall. However, the company has not yet responded to this.
Big companies seek such office space
DCCDL, a unit providing real estate solution on the rent of DLF group, has an operational fare portfolio of 404 lakh square feet, out of which 364 lakh square ft office space and 40 lakh square feet retail real estate.
On the trend of the Indian office market, DLF Vice President and MD (Rental Business) Shriram Khattar said to ET, “Global companies, especially technology firms, talent and world class commercial projects are attracted. These companies seek grade A ++ office space, which keep high ratings on sustainability, green initiative, social infrastructure and scalance. ”
On the expansion of the shopping mall, he said, “India is one of the fastest growing economies, where the middle class and a large part of the upper middle class desire to move forward financially.” With this, increasing population in cities will cause a strong increase in organized retail. ”
Also read:
GST Rate Cut: Tax will be less now! Finance Minister Nirmala Sitharaman gave a big signal
