DLF Cyber City Developers (DCCDL), the joint venture between DLF and Singapore sovereign fund GIC, has completed the acquisition of the entire 52 percent stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore. In December, DCCDL entered into a securities purchase agreement with funds managed by Hines for acquisition of their stake in Fairleaf Real Estate, which owns and operates 'One Horizon Center'.
Consequently, Fairleaf has become a wholly-owned subsidiary of DCCDL with effect from February 18, 2021. The acquisition is subject to customary conditions to closure and is expected to be consummated in the next quarter.
DLF is one of India's biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals
Company Name | CMP |
---|---|
Dilip Buildcon | 463.50 |
Macrotech Developers | 1250.00 |
NBCC (India) | 132.70 |
Prestige EstatesProj | 1311.90 |
DLF | 891.00 |
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