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

29 Dec 2020 CW Staff

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.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..