Indiabulls Real Estate has entered into a non-binding term sheet with a globally renowned real estate investor to divest its 50% stake in two office assets in Udyog Vihar, Gurugram, aggregating 784,000 sq ft leasable office space, which are presently owned by the company through its wholly owned subsidiaries.
Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.