DLF's rental subsidiary plans to put 'One Horizon Center' in REIT

DCCDL is a JV between DLF - the largest publicly listed real estate company in India - and Singapore's sovereign wealth fund GIC

Realty major DLF's rental arm -  DLF Cyber City Developers (DCCDL) - will place the One Horizon Center in Gurugram in its planned real estate investment trust (REIT).

The DLF rental arm on Friday said it had entered into an agreement with its joint venture (JV) partner US-based Hines to buy the latter's stake in One Horizon Center for an equity value of Rs 780 crore. 

“We will put the premium commercial project in REIT," said Sriram Khattar, managing director-rental business at DLF. 

He said the company would use its cash and raise debt to fund the stake purchase. "We