DLF to buy Rs 780 cr stake in commercial project in Gurugram
Real Estate

DLF to buy Rs 780 cr stake in commercial project in Gurugram

DLF’s rental arm recently entered into an agreement to acquire the stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore. DLF Cyber City Developers Ltd, the DLF-GIC joint venture firm inked a securities purchase agreement with funds managed by Hines to acquire their stake in Fairleaf Real Estate, which owns and operates the ‘One Horizon Center’.

As per DLF, the purchase consideration for the acquisition was about Rs 780 crore and subject to regulatory closing adjustment. DCCDL had the first right of refusal concerning the acquisition of Hines’s stake as it owned 48% stake in the One Horizon Center while the rest was owned by Hines.

The One Horizon Center offers Grade-A office spaces along with integral retail space, and it has a leasable area of 813,000 sq ft. The agreement is expected to be completed within the next quarter and is dependent upon the standard conditions of closure.

After closure of the agreement, the DCCDL's operational rental portfolio will be around 34 million sq ft. The GIC holds 33.33% stake in DCCDL while the majority of the stake is owned by DLF. DLF and GIC had started the joint venture in 2017 after GIC bought the entire 40% stake of DCCDL stake that was with the DLF promoters.

DLF’s rental arm recently entered into an agreement to acquire the stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore. DLF Cyber City Developers Ltd, the DLF-GIC joint venture firm inked a securities purchase agreement with funds managed by Hines to acquire their stake in Fairleaf Real Estate, which owns and operates the ‘One Horizon Center’.As per DLF, the purchase consideration for the acquisition was about Rs 780 crore and subject to regulatory closing adjustment. DCCDL had the first right of refusal concerning the acquisition of Hines’s stake as it owned 48% stake in the One Horizon Center while the rest was owned by Hines. The One Horizon Center offers Grade-A office spaces along with integral retail space, and it has a leasable area of 813,000 sq ft. The agreement is expected to be completed within the next quarter and is dependent upon the standard conditions of closure. After closure of the agreement, the DCCDL's operational rental portfolio will be around 34 million sq ft. The GIC holds 33.33% stake in DCCDL while the majority of the stake is owned by DLF. DLF and GIC had started the joint venture in 2017 after GIC bought the entire 40% stake of DCCDL stake that was with the DLF promoters.

Next Story
Real Estate

Sea Breeze launches La Wisteria in Siolim, Goa

Sea Breeze Group has announced the launch of La Wisteria, a RERA-approved luxury residential project in Siolim, North Goa, offering 80 boutique 1BHK and 2BHK apartments with private pools and lush paddy field views. Targeted for completion by December 2027, the development is designed to offer a high-end lifestyle and attractive rental returns.Each unit comes with a private pool and is surrounded by scenic vistas, ensuring exclusivity and long-term value. Positioned on a 3,545 sq m corner plot, the property is open on all four sides and bordered by greenery on two, enhancing privacy and openne..

Next Story
Real Estate

Ashiana Housing launches premium boutique project in Jaipur

Ashiana Housing, a listed real estate developer on NSE and BSE, has announced the launch of Ashiana Aravali, a low-density, premium residential project in Jagatpura, Jaipur. Designed for upper-mid and premium homebuyers, the development offers a rare combination of exclusivity, greenery, and urban connectivity in one of the city’s fastest-growing corridors.The boutique project comprises 50 residences, with 25 each of 4 BHK and 3 BHK units. The 4 BHK homes are offered in two configurations—2641 sq. ft. and 2630 sq. ft., while the 3 BHK homes are sized at 2312 sq. ft. Each apartment includes..

Next Story
Resources

Stylework’s MSA powers flexible workspace efficiency in 120 cities

Delhi, India – May 30, 2025: Stylework, a leading flexible workspace aggregator, announced the continued success of its Master Service Agreement (MSA)—a centralised solution that simplifies workspace management for over 50 enterprises and vendors across 120+ cities. Designed to support Stylework’s long-term vision of scalable workspace integration, the MSA has delivered measurable gains in operational efficiency, administrative control, and strategic agility. The solution reduces the complexity of managing multiple workspace contracts by consolidating them under a single organisatio..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?