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Transactions - DECEMBER 28, 2020

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Hines to sell stake in India office project to partner DLF

by Andrea Zander

DLF Cyber City Developers, the rental arm of real estate developer DLF Group and Singapore’s sovereign wealth fund GIC, has entered into an agreement to buy out Hines’ stake in Fairleaf Real Estate, which owns and operates One Horizon Center in Gurgaon, India.

The stake totals 51.8 percent. And the sales price is Rs 780 crore ($106 million).

One Horizon Center totals 814,169 square feet together with ground-floor retail space and a large parking garage. In addition to the office tower, the master plan includes high-end retail shops, restaurant and entertainment venues, and landscaped exterior public spaces. It also includes a second office tower.

 

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