DLF Cyber City Developers Limited (DCCDL), the rental arm of DLF Group has completed the acquisition of 51.8% stake of Fairleaf Real Estate Private Limited that operates One Horizon Centre in Gurgaon. “We would now like to inform that DCCDL has completed the acquisition of this 51.8% stake at a consideration of Rs 779.40 crore and consequently Fairleaf has become a wholly-owned subsidiary of DCCDL with effect from today,” DLF said in a regulatory filing on Thursday.
Fairleaf is a joint venture company, with funds managed by Hines. One Horizon Centre is an asset forming part of a larger mixed-use development located in one of the most sought-after location – DLF 5, Gurugram. The leasable area of the property is approximately 8,13,000 square feet offering high end Grade A office spaces along with complementary retail space. DLF is India’s leading real estate developer and has developed 153 real estate projects and developed an area of approximately 330 million square feet.
Source: Economic Times