Real Estate Gurgaon

Siddharth Zarabi & Nayantara Rai / New Delhi April 4, 2006


Talks with Hilton centered around setting up business hotels across the country.
The DLF group, India's largest real estate developer, is learnt to be in talks with Hilton International for a foray into the hospitality sector. DLF had acquired a 1.24-acre hotel site for Rs 97 crore in the Rohini district centre from the Delhi Development Authority last month.
Sources close to the development told Business Standard that the talks with Hilton were centered around setting up business hotels at various locations across the country.


When contacted, a DLF spokesperson said, “We are open to exploring new ventures in the area of speciality projects, including the hospitality sector. As of now, there is nothing in the pipeline to confirm or discuss.”

Company sources confirmed the Rohini land acquisition through a group entity, Breeze Construction. DLF is permitted to have a maximum built-up area of 20,516 sq metres at the site and given the location, it is likely to be a business hotel.
Unlisted DLF, promoted by KP Singh (ranked 114th in the recent Forbes list of billionaires with a net worth of $5 billion), has construction activity spread over 100 million sq ft in a dozen cities. It has lined up development plans for over 1,000 acres every year.

In Gurgaon, DLF is planning projects in phases which may cover a total of 10,000 acres at a projected investment of well over Rs 1,000 crore.

Source: http://www.business-standard.com