DLF Offices leases 3 million square feet of office space in FY14

DLF Offices, the offices leasing and management arm of India’s leading real estate developer, DLF, has created a benchmark by leasing 3 million square feet of office space in FY14 with many marquee MNCs and Indian companies. Out of the 3 million square feet leased out, a record 1.7 million square feet has been leased out in Gurgaon alone. This has been achieved despite intense competition in the office leasing space and a subdued economic environment. The lease rentals witnessed stable to healthy increases in various micro markets. Significantly most tenants who are completing the 9 year lease term in DLF CyberCity, Gurgaon chose to renew their leases reinforcing their faith and relationship with DLF. DLF Offices has approximately 27 million square feet of leasable space pan India with certain projects having achieved above 95% occupancy.