To tap into the growing demand for commercial properties from corporates and co-working players, realty major DLF's arm - DLF Cyber City Developers Ltd (DCCDL) - will invest around Rs 1,500 crore in the next two years on construction of over 3 million sft office space in Gurugram, Haryana. According to the company, it would be developing 3.2 million sft office space in the first phase of the new project, located on national highway and adjacent to DLF Cyber City project.
The company has started construction work on two identical buildings of 7.5 lakh sft each and the target is to complete the same by end of 2020. The construction work on the remaining 1.7 million sft will start soon and get completed by end of 2021. "There is a huge demand for office space in Gurugram from corporates as well as co-working operators. Our commercial buildings in Gurugram are almost completely occupied. Therefore, we have started this new project to cater to the growing demand," said Sriram Khattar, managing director - rental business- DLF. He added that the company has already started leasing space for this project.]