Track2Realty-Agencies: DLF today, Dec 19, said it has signed an agreement for effecting a sale of the luxury hotel chain Amanresorts to the hospitality property’s founder and Chairman Adrian Zecha for about USD 300 million (over Rs 1,600 crore).
Track2Realty-Agencies: Competition Commission of India (CCI) has rejected a complaint of alleged abuse of market dominance against real estate major DLF, related to a housing project in Chennai.
Track2Realty: India Against Corruption (IAC) raised certain allegations, some of which pertained to DLF. In this regard, we would like to state that the business relationship of DLF with Mr Robert Vadra or his companies, has been in his capacity as an individual entrepreneur, on a completely transparent and at an arm’s length basis. Our business relationship has been conducted to the highest standards of ethics and transparency, as has been our business practices, all around.
DLF, has sold its entire stake in Adone Hotels and Hospitality Limited (Adone) to Kolkata-based Avani Projects and Square Four Housing & Infrastructure for Rs 567 crore. This was in line with its strategy of divesting non-core assets to pare debt, DLF said in a statement.
India’s largest real estate developer DLF Ltd rose 3.2 percent to 188.10 rupees after Goldman Sachs upgraded its rating on the stock to “buy” from “neutral” and raised its 12-month target price to 264 rupees from 252 rupees.
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
DLF now extends its footprints further by launching a plotted development, Hyde Park Estate at DLF New Chandigarh and Park Place, a luxury apartment complex in Jalandhar.
Realty major DLF on Wednesday, Dec 28, announced sale of its information technology special economic zone (IT SEZ) in Pune to Blackstone Group.
DLF is reportedly raising Rs.500 crore by sell of its stake in hotel subsidiary to Kolkata-based Square Four Housing & Infrastructure Private Ltd.
DLF has bought its partner Hilton’s 26% share in joint venture DLF Hotels & Hospitality for Rs.120 crore.