Indiabulls Real Estate completes divestment of 50% stake in two office assets

Last Updated : Jan 01 2019 | 10:31 AM IST

Indiabulls Real Estate completed the divestment of 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 JVs.

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Indiabulls Real Estate completes divestment of 50% stake in two office assets