King of lease
Under the leadership of Dr Kushal Pal Singh, Chairman, DLF Offices, the group seems to be ahead in the office leasing space by having leased out 3 million sq ft in FY14. Out of the 3 million sq ft, 1.7 million sq ft has been leased out in Gurgaon alone. This feat is commendable despite intense competition in the office leasing space and a subdued economic environment. Also, the lease rentals have witnessed stable to healthy increases in various micro markets. What's more? Recently most tenants who have completed the nine year lease term in DLF CyberCity, Gurgaon, chose to renew their leases reinforcing their faith and relationship with DLF. Interestingly, DLF Offices have approximately 27 million sq ft of leasable space pan India with certain projects having achieved above 95 per cent occupancy. With this, Singh seems to be on his way to become the king in the office leasing space!