Indiabulls Real Estate has completed divestment up to 50% stake in two office assets in Udyog Vihar, Gurugram aggregating 784,000 sq. ft. leasable office space at an aggregate enterprise value of approximately Rs 464 crore to the entities controlled by The Blackstone Group L.P., which is a globally renowned real estate private equity investor.
With this, company's existing wholly owned subsidiaries Ashkit Properties and Yashita Buildcon have become Joint Ventures.
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.
