DLF and GIC, Singapore’s sovereign wealth fund, have received an approval from the Competition Commission of India (CCI) for their proposed joint venture (JV). Pursuant to receipt of this approval, both parties are initiating the necessary steps to successful closing their transaction.
Earlier on September 02, 2015, DLF’s wholly-owned subsidiary - DLF Home Developers (DHDL), had entered into a JV with GIC, Singapore’s sovereign wealth fund, to invest in two upcoming projects located in Central Delhi. Both projects will be developed under DHDL. GIC will invest a sum of approximately Rs 1,990 crore.
DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 288 million square feet (approximately) of development potential with 45 million square feet of projects under construction.
