Amazon is planning to Lease Space at Dlf’s New Project in Gurgaon

Ecommerce king Amazon.com is in talks with realty giant DLF to take on lease office space sprawling 600,000 sq ft at its project ‘Downtown Gurgaon’.

As per the Q2 reports from DLF, the real estate giant will start construction work on 2 million sq ft of office space in Gurgaon as it saw rising demand for grade A office in the upcoming year.

Two towers of DLF in Downtown Gurgaon, each sprawling over 1.25 million sq ft of office space, are about to complete. While one is almost fully leased, DLF has signed a non-binding agreement for about 95% of the second tower.

“DLF Downtown is at prime location on National Highway 8, and despite being a under construction project, it has received interest from large corporates,” said one of persons cited earlier. “Most of the leasing has been done before the completion of the project.”

DLF’S spokesperson said “We do not comment on speculation of what we may or may not do in future.” If a deal is signed, it will be the biggest office space transaction of NCR in recent times”.

If we go by international property consultants, then leasing in India for office space has increased again, and despite the fear of Omicron slowing the recovery, large companies have continued to evaluate A grade assets.

Furthermore, DLF Cyber City Developers (DCCDL), the rental arm of DLF, states that the leasing segment grown in the last 6-8 weeks.

DCCDL’s consolidated revenue was ₹1,123 crore in Q2 of FY22 as compared to ₹1,040 crore in FY21. The renewal percentage of the company has now dropped to 85% from 90%.