DLF to Sell Kolkata Tech Park 1 for Rs 6.37 billion

03 Dec 2024 CW Team

DLF, India's largest real estate company, has announced plans to sell its Kolkata Tech Park 1 to RDB Primarc Techno Park LLP, an affiliate of the Primarc and RDB group, in a slump sale deal valued at Rs 6.37 billion. Kolkata Tech Park 1, among the largest IT parks in eastern India, boasts a gross leasable area of approximately 1.49 million square feet. It is a LEED Platinum Certified building by the US Green Building Council (USGBC) and hosts several global technology firms. “This sale underscores the value inherent in our premium assets, cultivated through strong tenant partnerships and quality asset management. It reaffirms our commitment to enhancing shareholder value,” said Sriram Khattar, Vice Chairman and Managing Director of DLF's Rental Business. Vinod Dugar, Promoter of RDB Group, highlighted the acquisition's focus on sustainability and excellence, reflecting their commitment to Bengal's dynamic economy. In a separate development, Mumbai-based Macrotech Developers has acquired a 100% equity stake in Janus Logistics and Industrial Parks Private Limited (JLIPPL) from Phoenix Logistics and Industrial Parks for nearly Rs 480 million. JLIPPL, which specialises in warehousing and logistics development, has had no business operations or turnover in the past three years. “This acquisition aligns with our strategic focus on calibrated growth in industrial and logistics infrastructure,” said Macrotech Developers. (New Indian Express)

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