DLF is scheduling to list the DLF assets in the form of DLF office, so that they are able to raise $1 billion Singapore dollars. DAL was set up by DLF, which is sponsor of IPL, to purchase the commercial property. According to sources cited at www.propertykhazana.com, DLF is thinking to merge office with other foreign firms, which is listed with the Singapore real estate investment trust.
DLF board has agreed in principle that the integration of the promoter group companies, Caraf Builders and Constructions, which is the major firm of DAL—the auxiliary firm, known as the Cyber city developers. DLF has got 60 percent share and the remaining shares with the promoters. On a short note with www.propertykhazana.com, DLF ED (Finance) said, “Company management did not invest time in listing the DAL and this would happen when markets are right”.
DLF developers were prepared to list in Singapore the previous year, but stopped it because of recession. For interesting information, please logon to www.propertykhazana.com.
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