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| Exchange Disseminated Time 19/01/2017 15:47:49 | GMR Infrastructure Ltd has informed BSE that the international competitive bidding process for the selection of developer for Integrated Retail Development has been completed. This is in addition to 5.67 Lac sqm already developed as Hospitality District at Delhi Aerocity.
DIAL has issued the letter of award to design, develop, construct, finance, own, operate and maintain the 'Integrated Retail Development Project' with FSI of 1.96 Lac sqm to Bharti Realty Holdings Limited. The transaction involves upfront payments of INR 315 Crore (including RSD, ADC, Bid Processing Fee) and License Fee equivalent to 20% of Revenue with Minimum Guaranteed Payments.
The effectiveness of the transaction is subject to certain conditions precedents and necessary approvals. |
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