As per to the three persons familiar with the situation, ecommerce giant Amazon.com is in negotiations with real estate developer DLF NSE 0.49 percent to lease approximately 600,000 sq ft of office space at its future project 'Downtown Gurgaon.
DLF indicated during its Q2 analysts call in October that it will begin construction of a 2 million sq ft office complex in Gurgaon soon, citing increased demand for grade A office buildings in the next year.
DLF's two Downtown Gurgaon office buildings, each with 1.25 million square feet of area, are approaching completion. The business has signed
a non-binding deal for around 95 percent of the second tower, while the first is practically entirely leased.
DLF's two Downtown Gurgaon office buildings, each with 1.25 million square feet of area, are approaching completion. The business has signed a non-binding deal for around 95 percent of the second tower, while the first is practically entirely leased.
"Despite being a development project, DLF Downtown is at a fantastic location on National Highway 8 and has gotten interest from significant corporations," said one of the people mentioned previously. "The majority of the leasing was completed prior to the project's completion."
A spokesperson for DLF said, "We do not comment on speculation of what we may or may not do in future." If a deal is signed, it will be the biggest office space transaction of NCR in recent times. According to international property consultants, office space leasing in India has picked up again, and despite Omicron threatening the recovery, large corporates have continued to assess grade A assets.
According to DLF Cyber City Developers (DCCDL), the rental arm of the company, leasing momentum has picked up in the last 6-8 weeks. DCCDL's consolidated revenue stood at ₹1,123 crore in Q2 of FY22 compared with ₹1,040 crore in the year-ago period. The company's renewal percentage, which used to be in the 90s, has now dropped to 85%.