Compare Listings

DLF leases 2 lakh sq ft to Facebook

DLF leases 2 lakh sq ft to Facebook

“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.

Source

img

Axiom Landbase

Related posts

Oaktree invests Rs 570 crore in realty developer M3M

Oaktree Capital Management, a US alternative investment firm, has bought Rs 570 crore of debentures...

Continue reading
by Axiom Landbase

5,500 housing units get delivered in top 7 cities as lockdown eases

Delivery of projects during the prevailing challenges sends out a positive signal and helps regain...

Continue reading
by Axiom Landbase

M3M Group Delivers Two New Projects With Total Sales Value Of Rs 900 Cr

Leading real estate developer from Gurgaon, the M3M Group says it has delivered two projects worth...

Continue reading
by Axiom Landbase

Join The Discussion

msg us     seprator     Call    seprator    whatsapp

ENQUIRE NOW


close-link
Bitnami