DLF Acquires Full Stake in Luxury Developer Arm: Strategic Investment in Realty

Real estate giant DLF has acquired a nearly 50% stake in DLF Urban Private Limited from Singapore's Reco Greens for Rs 497 crore, making DLF Urban a wholly-owned subsidiary. This acquisition strengthens DLF's position in the luxury housing sector and aligns with its expansion goals.

DLF, the real estate behemoth, has secured full ownership of its subsidiary, DLF Urban Private Limited, by purchasing a nearly 50% stake from Reco Greens for Rs 497 crore. This strategic move sees DLF Urban transition into a wholly-owned unit of DLF, enhancing its luxury real estate portfolio.

Reco Greens, a subsidiary of Singapore's sovereign wealth entity GIC, relinquished its significant shareholding, compelling a shift in ownership dynamics. DLF's recent regulatory filing confirms the doubling of its stake in DLF Urban to 100%, a stark increase from the previous 50.003%.

This acquisition not only augments DLF's residential project capabilities, particularly with the prestigious One Midtown development in Delhi but also reinforces its broader expansion strategy. DLF has publicly outlined intentions to invest Rs 40,000 crore in completing and growing its housing and commercial real estate ventures across India.

(With inputs from agencies.)