DLF-Hines JV secures Rs 2,600 cr loan for Gurgaon office project

New Delhi: Realty players DLF and Hines have got a loan global of Rs 2,600 crore for their second joint venture from HDFC. This will enable the construction of office projects spread over 11.76 acres.

The project will come up Phase Four of Udyog Vihar in Gurugram on a commercial land parcel that bought by the joint venture through auction conducted by Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).

The project will have two phases. The first phase will have 2.55 million square feet development. The construction will start soon and the buildings will be ready by 2023, the company said.    

The office project has been designed by international architect Pelli Clarke Pelli. Hines is an international realty investment firm and has operations in 205 cities in 24 countries. It signed a joint venture agreement with DLF in March 2019 for the office project.