Corporate Leasing

Jan 08, 2018




Source        Business Standard
Realty major DLF has leased about 350, 000 sq ft of office space to Samsung India Electronics in its commercial complex at Gurgaon that has been constructed at an estimated cost of over Rs 400 crore.
According to sources, Samsung India Electronics has leased about 350, 000 sq ft in this office building for its India headquarters.
DLF has leased about 100, 000 sq ft office space to some other companies, including in Executive Centre and Corporate Edge office facilities, they added.
That apart, the company has sold about 200, 000 sq ft of area to corporate for their end use.
Recently, the company gave an about Rs 800 crore contract to L& T for construction of its new office complex in Gurgaon. DLF has decided to develop a new office complex as its office stock has almost exhausted.

Meanwhile, DLF’s promoters have decided to sell 40 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) to monetise commercial assets and remove conflict of interest.

DLF owns remaining 60 per cent stake in DCCDL, which holds the bulk of its office and retail complexes.

The company has a land bank of 281 million sq ft, of which 37 million sq ft is under construction.