DLF announced its second joint venture with HINES. DLF Home Developers, a wholly owned subsidiary of DLF and Green Horizon Trustee (an affiliate of HINES) have entered into a joint venture for developing a high-end commercial project in Gurugram.
DHD will hold 67% stake in the joint venture while 33% will be held by HINES. The total investment in the joint venture is about Rs 1900 crore. HINES has invested approx. Rs 500 crore in the first tranche. Hines will have the option to increase its stake in the JV to up to 49%.
The project will be developed on 11.76 acres of land owned by the joint venture company. The land parcel is located across the highway to the existing business district of DLF Cybercity.
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