DLF is going to invest Rs 6000 crore in Gurugram!
Real estate company DLF's rental arm will invest around Rs 6,000 crore to build office and retail space spread over 75 lakh square feet in Gurugram. Through this, an attempt will be made to meet 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, in which DLF has about 67 percent stake.
Work on construction of DLF Mall in Gurugram also started
In its investor presentation in the third quarter of FY 2024-25, DLF said that its rental arm has started construction of Grade A plus office space spread over 5.5 million (55 lakh) square feet in the new phase of its ultra-premium commercial project 'DLF Downtown, Gurugram'.
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, work has been completed up to 3.7 million (37 lakh) square feet area. According to an 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 are looking for such office space
DCCDL, a unit of DLF Group that provides real estate solutions for rent, has an operational rental portfolio of 404 lakh square feet, of which 364 lakh square feet is office space and 40 lakh square feet is retail real estate. Speaking to ET on the trend of the indian office market, DLF Vice President and MD (Rental Business) Shriram Khattar said, "Global companies, especially technology firms, are attracted to talent and world class commercial projects. These companies look for grade A++ office space, which has high ratings on sustainability, green initiatives, social infrastructure and scalability." On the expansion of shopping malls, he said, "India is one of the fastest growing economies, where a large part of the middle class and upper middle class aspire to move forward economically. At the same time, the growing population in cities will lead to strong growth in organized retail."
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