DLF-GIC to invest Rs 1,250 crores in central Delhi
Realty major DLF and Singapore’s sovereign wealth fund GIC will invest about Rs 1,250 crores over the next four years to construct a housing project in the national capital. In September 2015, the GIC had invested Rs 2,000 crores to…

Realty major DLF and Singapore’s sovereign wealth fund GIC will invest about Rs 1,250 crores over the next four years to construct a housing project in the national capital.

In September 2015, the GIC had invested Rs 2,000 crores to buy 50 per cent stake in DLF’s two upcoming housing projects at Moti Nagar in central Delhi, Economic Times reported.

The two projects, which will be called ‘Midtown’, have a total development potential of about 7 million sq ft. The first phase involves 2.5 million sq ft of built-up area.

This project is part of the DLF’s overall development of 38-acre land parcel at Moti Nagar that it bought in 2007 from DCM Shriram and Lohia Group for Rs 1,675

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