Country's real estate building giant, DLF Limited, has decided to monetize some commercial real estate assets worth about Rs 3,000cr, said an industry insider adding that GIC of Singapore, Blackstone and IT park developer Ascendas are among the investors who were approached as potential suitors for some of DLF's tenanted offices. DLF has a rent-yielding office portfolio of around 30 million sqft spread across cities, making it the country's biggest landlord of commercial assets. The Gurgaon-based company could offload part of its portfolio, outside the National Capital Region, to investors who are keen on buying Indian office buildings.
He further added that DLF is exploring various options to boost confidence of their investors and bankers. The preliminary moves to monetize some commercial assets may be part of this exercise. The talks depend on the progress of their appeal against the regulator ban. As a matter of fact, the player is exploring the prospect of hiving off leased and under development IT parks located in South India. The company has large operational office campuses in Chennai and Hyderabad totaling to over 5-million sqft. In Pune, DLF has already sold one of its IT parks to Blackstone for Rs 800cr a few years ago, while another IT campus is under development, however, the player remained tight lipped to the media reports.