The realty major on Thursday announced that its material subsidiary DLF Cyber City Developers (DCCDL) has completed the acquisition of 51.8% stake in Fairleaf Real Estate for Rs 779.40 crore.Consequently, Fairleaf has become a wholly owned subsidiary of DCCDL.
DCCDL had in December 2020 entered into a securities purchase agreement with funds managed by Hines for acquisition of their stake in Fairleaf, which owns and operates One Horizon Centre, Gurugram.
One Horizon Centre is an asset forming part of a larger mixed-use development located in DLF 5, Gurugram. The leasable area of the property is approximately 8,13,000 square feet offering high-end Grade A office spaces along with complementary retail space.