DLF's rental subsidiary, DLF Cyber City Developers (DCCDL), plans to invest approximately Rs 60 billion in the construction of 7.5 million square feet of high-end office and retail spaces in Gurugram. This expansion aims to cater to the growing demand for premium, sustainable commercial properties.

DCCDL, a joint venture between DLF and Singapore's sovereign wealth fund GIC, is majority-owned by DLF, which holds a 67 per cent stake. The company has initiated the development of 5.5 million (55 lakh) square feet of Grade A+ office spaces as part of the new phase of its flagship commercial project, 'DLF Downtown, Gurugram.' Additionally, construction has begun on DLF Mall of India in Gurugram, which will span 2 million (20 lakh) square feet.

So far, DCCDL has completed 3.7 million (37 lakh) square feet of development. Industry estimates suggest that the total investment in these projects will reach approximately Rs 60 billion.

DCCDL manages a significant portion of DLF Group’s rent-generating assets, with an operational rental portfolio of 40.4 million square feet. This includes 36.4 million square feet of office space and 4 million square feet of retail developments.

The Indian office market continues to attract global businesses, particularly in the technology sector, due to its availability of skilled talent and high-quality commercial infrastructure. Demand for top-tier office spaces with strong sustainability credentials and modern amenities remains robust, driving further investments in premium developments.

News source: Outlook Business