Indiabulls Real Estate sells 50% stake in two office assets for Rs 464 crore

21 Dec 2018

Indiabulls Real Estate has sold 50% stake in two office assets in Gurugram to global private equity firm Blackstone at an enterprise value of Rs 464 crore. In November, the company had signed a non-binding term sheet to divest its 50% stake in two office assets having nearly 8 lakh sq ft leasable area.

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.

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