NEW DELHI: Realty major DLF has leased 210,000 sq ft of office space to US healthcare company Syneos Health, in one of the largest deals in commercial real estate in Delhi-NCR in recent times, three people aware of the development said.
The company has taken space in DLF Downtown, an upcoming project in Gurgaon.
The building is scheduled for completion in December 2021 and DLF has pre-leased close to 500,000 sq ft.
“Syneos Health was looking for a big space and have signed a letter of intent with DLF. Some of the 2.1 lakh space is under commitment to be taken later, whenever they expand their operations in India,” said one of the persons quoted above.
DLF is expected to handover the building for fit out in December 2021 and Syneos is likely to move in by March 2022.
DLF declined to comment while Syneos Health did not respond to email query till press time.
The first phase of Downtown Gurgaon— being developed under DLF Cyber City Developers (DCCDL), a joint venture between DLF and GIC—with leasable area of 1.5 million sq ft, is expected to become operational by December 2021.
“The development of Downtown, at Gurugram and Chennai, and Noida project remains on track,” DLF had said in a statement while announcing results for the quarter ended December 2020.
The first phase of Downtown Gurgaon, with leasable area of 1.5 million sq ft, is expected to become operational by December 2021. The deadline was pushed back from July 2021 due to Covid-19.
According to property consultants, leasing activity has increased in the last few months in Delhi-NCR.