Property developer DLF Ltd. will be expanding its office space portfolio by adding four million sq.ft. by third quarter of 2017, according to a top official.
“We are developing two properties, one in Chennai of 1.6 million sq.ft. office space and another in Gurgaon [with] 2.5 million sq.ft.,” said Amit Grover, director – office business, DLF.
“With the completion of these two projects, we will have commercial office portfolio of 31 million sq.ft. Then, we would be the single largest entity in the country to have largest commercial office portfolio,” he said.
According to him, the civil works of both the projects have started. The ₹1,200 crore Cyberpark Gurgaon is scheduled for third quarter of 2017. Currently, DLF has six operational IT-SEZs in five locations spanning 27 million sq.ft.
“In Chennai, we are expanding DLF Cybercity IT-SEZ at Manapakkam, near Guindy at an investment of ₹500 crore. The new building consists of three blocks of 10 floors each. The first and second block will be ready by third quarter of 2017 and third block by third quarter of 2018. After the completion, we will have a total of 7.2 million sq.ft office space,” he said.
Mr. Grover was in the city to celebrate DLF Cybercity Chennai’s 10th anniversary. Right now, Chennai IT-SEZ has 55 clients and the new blocks would easily accommodate another 20 firms.
