DLF to invest Rs 20,000 crore in commercial expansion

DLF Ltd, a major real estate company in India, has announced a significant investment of Rs 20,000 crore. This money will be used to develop new commercial properties, including office buildings and retail spaces. The plan is part of DLF's goal to grow its rental portfolio from 44 million square feet to 73 million square feet. The investment will focus on projects managed both by DLF itself and through its joint venture, DLF Cyber City Developers Ltd (DCCDL). DCCDL, where DLF owns a 67 percent share and is backed by GIC, will be key in this expansion. The strategy aims to strengthen DLF's rental business and support its growth in the long term. Currently, DLF's rental portfolio has a high occupancy rate of 93 percent. With the expansion, the company hopes to reinforce its leading position in India's commercial real estate market. DCCDL plans to invest Rs 6,000 crore to create 75 lakh square feet of high-quality office and retail spaces, particularly in Gurugram. Some notable projects in the works include the DLF Downtown, offering Grade A+ office space, and the DLF Mall of India, a premium retail complex. Since its founding, DLF has completed over 185 projects, totaling more than 352 million square feet of space. Furthermore, DLF has the potential to develop an additional 220 million square feet in both residential and commercial areas. With strong demand from various investors, DLF's aggressive expansion plan is expected to strengthen its market presence in the thriving commercial real estate sector in India.