As a part of its plan to streamline and monetize its existing assets,DLF Ltd has decided to sell its shopping mall in Saket, Delhi to its subsidiary for Rs 904.50 crore.
The transaction with Nambi Buildwell Pvt. Ltd, on an arm’s length basis, also includes the sale of the land parcel on which the 5.16 lakh square feet mall is situated.
Over the coming two years, DLF is planning to launch real estate investment trusts worth up to Rs 6,000 crore in two tranches.
Currently, DLF is also in the process to partly sell its commercial office portfolio, which involves DLF promoter companies Rajdhani Investments and Agencies Pvt. Ltd, Buland Consultants and Investments Pvt. Ltd and Sidhant Housing and Development Co. selling a 40 per cent stake in DLF Cyber City Developers Ltd (DCCDL) to institutional investors.
However, DLF will continue to hold the remaining stake in DCCDL.