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DLF inks deal with Standard Chartered GBS

Capital Market 

DLF has inked an anchor deal with Standard Chartered GBS for their office building at DLF Downtown, Taramani, Chennai.

In one of the largest commercial office space deals in India during recent times, Standard Chartered GBS is leasing 7.7 lakh sq. ft. to set-up its largest office establishment in this project. Standard Chartered GBS office in DLF Downtown, Chennai will be its largest campus globally. The unique building design with a wider span of atriums, interconnecting internal staircases, terraces and skylight -is a highly experiential workspace for employees to connect, collaborate and belong.

DLF Downtown, a mixed-use development project, is strategically located in the heart of Old Mahabalipuram Road at Taramani, the IT Central Business District of Chennai which is already home to over 100+ MNCs and top Indian companies.

DLF and GIC, Singapore's sovereign wealth fund (Government of Singapore) had entered into a strategic partnership to develop a rental assets portfolio with GIC as 1/3rd partner, under the consolidated portfolio of DLF Cyber City Developers (DCCDL), a subsidiary of DLF.

DCCDL, the joint venture of DLF-GIC, and TIDCO, announced the launch of this iconic development - DLF Downtown, Chennai with an investment of 5,000 crores, earlier this year.

Commenting on the new announcement, Sriram Khattar, Managing Director, DLF Rental Business, said the company will continue its passionate journey of providing safe and sustainable workspaces matching global standards.

The announcement was made after market hours yesterday, 21 October 2020. Shares of DLF rose 2.8% to settle at Rs 172.15 yesterday.

DLF is India's leading real estate company with residential, commercial, and retail properties in 15 states and 24 cities.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 22 2020. 08:59 IST