DLF to sell 40% DCCDL stake to GIC for $2 billions

DLF Cyber Hub Gurugram
DLF Cyber Hub Gurugram

Gurugram: The owner of DLF group K.P Singh decided to sell the 40% DLF Cyber City stake for $2 billions to GIC Singapore-headquartered private firm.

The statement issued by the company did not divulge the deal figure. Sources in the company pegged the deal size at around Rs 14,000 crore ($2 billion). At this price, DLF’s rental arm DCCDL could be valued at around Rs 35,000 crore.

The main income of DCCDL is rental from office complexes.

DCCDL owns 26.8 million sq ft operational office and commercial space in Gurgaon, Chandigarh and Kolkata. Apart from Cyber City in Gurgaon, the company owns DLF City Centre, including Mall of India in Gurgaon, premium malls DLF Promenade (100%) and DLF Emporio (45%) in South Delhi.

It owns 100% stakes in DLF Info City in Chandigarh and Kolkata.