IndiaCatalog.com
India News
Search Web Directory
News Home
DLF-Hines JV to invest Rs 1,900 crore in Gurugram commercial project
Posted on 20th March 2019
The country’s largest real estate developer DLF on Tuesday announced its second joint venture with global realty investment, development and management firm Hines. They will work on a project with total value of Rs 7,000 crore.

DLF Home Developers (DHDL), a wholly owned subsidiary of DLF, and Green Horizon Trustee, an affiliate of Hines, have entered into a joint venture to develop a high-end commercial project in Gurugram, said the companies.

The total investment by the joint venture partners in this project is about Rs 1,900 crore.

Hines will initially own 33 per cent equity in the joint venture with an option to increase its stake to up to 49 per cent. The company has invested about Rs 500 crore in the first tranche; it might go up to Rs 1,000 crore over time.

The project would be developed in the next four years and would come up on 11.76 acres. The land parcel is located across the highway from the existing business district of DLF Cyber City.

“This is our second JV with them. With our joint experience, we shall work together to develop world-class buildings, which will set new standards for commercial buildings in this part of the world,” said Sriram Khattar, managing director, DLF Rental Business.

DLF and Hines entered into their first JV in 2008 to develop One Horizon Center in DLF-5 Gurgaon.

“This is an excellent location that benefits from great connectivity by road and by metro. The site is located close to CyberCity and we aim to build a high-end corporate address,” said Amit Diwan, managing director and country head, Hines India.

The realty major also plans to raise an estimated Rs 3,000 crore through sale of equity shares to qualified institutional investors.

With plans of being a debt-free company, DLF had earlier announced plans to issue up to 173 million shares, through qualified institutional placement (QIP) to raise funds and pre-pay loans. DLF is planning to complete the QIP by June this year.

On the back of a reworked business strategy and demand uptick for ready-to-move-in properties, the country’s largest real estate firm, DLF, registered sales of over Rs 2,400 crore for residential inventory properties in 2018.

Last year, DLF said it would sell apartments only when it gets occupancy certificate after completing the project as part of its new business model to remove any uncertainty regarding costs and delivery timelines.

The company has Rs 12,500-crore worth of residential inventory, which it plans to sell off over the next few years. Some of the reasons behind the recent rise in demand for DLF properties are that the company is giving the flats at a discounted price and offering upgrades to those who had earlier bought smaller units.

DLF Group has 227 million square feet of development potential across residential and commercial segment. The group has an annuity portfolio of over 32 million square feet.

Related Companies: DLF Ltd   

Other Latest News
17 US states, DC file lawsuit against Trump's new visa policy for students
Posted on 14th July 2020
As many as 17 US states and the District of Columbia have filed a lawsuit against the Trump administration's new visa policy for international students, calling it a "cruel, abrupt, and unlawful action to expel them amidst the COVID-19 pandemic.

In its July 6 order, the US Immigration and Customs Enforcement (ICE) declared that the nonimmigrant students with F-1 and M-1 visas attending schools operating entirely online or taking only online courses will not be permitted to remain in the United States.

Telangana coronavirus update: State reports 1,550 new cases, 9 deaths
Posted on 14th July 2020
A total of 1,550 COVID-19 cases and nine deaths were reported in Telangana on Monday, said the state's health department.

The state's total COVID-19 cases now stand at 36,221, including 12,178 active cases and 23,679 recoveries.

The deadly virus has so far claimed 365 lives in the State.

Gold prices today at Rs 49,050 per 10 gm, silver jumps to Rs 52,210 a kg
Posted on 14th July 2020
Gold prices on Tuesday jumped to Rs 49,050 from Rs 49,010 per 10 gram, while silver climbed to Rs 52,210 from Rs 52,000 per kilogram, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

5Paisa Capital hits 52-wk high after posting first-ever quarterly profit
Posted on 14th July 2020
Shares of 5Paisa Capital were locked in 5 per cent upper circuit at Rs 324.60 on the BSE on Tuesday after the company posted net profit of Rs 3.74 crore in June quarter (Q1FY20), against net loss of Rs 55 lakh in the year-ago quarter.

The company has reported quarterly profits for the first time since the launch of 5Paisa in March 2016. The stock was trading at its 52-week high level.

Tata Communications hits over 2-year high; stock zooms 112% in 3 months
Posted on 14th July 2020
Shares of Tata Communications were locked in the 5 per cent upper circuit for the second straight day on the BSE at Rs 700.55 on Tuesday, hitting an over two-year high in an otherwise weak market.

The stock of the Tata group company was trading at its highest level since December 15, 2017. In the past three months, it had rallied 112 per cent after the company delivered strong operating performance during the January-March quarter (Q4FY20). In comparison, the S&P BSE Sensex was up 18 per cent during the period.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for DLF-Hines JV to invest Rs 1,900 crore in Gurugram commercial project
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for DLF-Hines JV to invest Rs 1,900 crore in Gurugram commercial project

Most Read News

US airlines reach deal on govt loans as Covid-19 threatens demand, jobs

Gold price slides Rs 188 to Rs 48,444 per 10 gm, silver is 48,870 per kg

United Airlines sending layoff notices to nearly half of its US employees

Apollo Tyres decides to reduce capex by Rs 400 crore over coronavirus

GMR completes stake sale in airport biz to Groupe ADP, gets Rs 4,565 cr

More India News

Photo Gallery

BMW X3(13 Images)BMW X3
Nissan Terrano(12 Images)Nissan Terrano
BMW i8(18 Images) BMW i8
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2020 IndiaCatalog.com
    All Rights Reserved
Privacy Statement