DLF leases 2 lakh sq ft to Facebook
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by Axiom Landbase
- February 8, 2020
- Market Updates
- 0
“The space has been taken at DLF Atria, on NH8. Average rental in the area is Rs 120 per sq ft per month,” said a senior executive aware of the matter. The company is also developing an 11-million-sq-ft project, DLF Downtown, in Gurgaon under DLF Cyber City Developers Ltd (DCCDL), which is a joint venture between DLF and GIC.
Realty developer DLF, backed by Singapore’s sovereign fund GIC, has leased 2 lakh square feet of office space to Facebook in Gurgaon’s Cyber city. People aware of the development said the space was taken after another company vacated the building located on National Highway 8.
“The space has been taken at DLF Atria, on NH8. Average rental in the area is Rs 120 per sq ft per month,” said a senior executive aware of the matter.
The company is also developing an 11-million-sq-ft project, DLF Downtown, in Gurgaon under DLF Cyber City Developers Ltd (DCCDL), which is a joint venture between DLF and GIC. Besides, it is leasing space in the existing buildings, which is being vacated by existing customers.
“We do not comment on individual deals due to client confidentiality,” said Sriram Khattar, the managing director for rental business at DLF.
Facebook did not respond to an email seeking comment.
DLF has identified a development pipeline of 20 million sq ft across India and construction of 5.5 million sq ft is underway. This will augment the company’s existing 32 million sq ft rental portfolio and it plans to take the national portfolio to over 50 million sq ft once new projects are completed.
