Lehman Brothers puts in $ 200m in DLF assets

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New Opportunities I PCC sponsored by Lehman Brothers has made an investment of USD 200 million into DLF Assets Private Limited (DAPL).

Earlier, D E Shaw, the global investment firm has made an investment of USD 400 million into DLF Assets Private Limited (DAPL).

Both Investors get representation on the Board of Directors of DAPL.

DAPL has been set up with the intent of bidding (along with other bidders) in potential assets sales that DLF may wish to conduct.

About DLF

DLF is the largest real estate development company in India in terms of area of completed residential and commercial development (Source AC Neilsen Report) and its primary business is the development of residential, commercial and retail properties.

DLF has been responsible for development of approximately 224 million square feet including around 195 million square feet of land area sold as plot, 19 million square feet of residential properties, 7 million square feet of commercial properties and 3 million square feet of retail properties. As of April 30, 2007, DLF has projects with lettable or saleable area of approximately 44 million square feet under construction and Land Reserves across 31 cities.