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UCP plans to sell IT SEZ for Rs 2,800 cr

New Delhi, Jul 14, 2013, PTI :

Unitech Corporate Parks, a Unitech group firm listed in London, is planning to sell its IT Special economic Zone (SEZ) in Gurgaon comprising about 3.5 million sq ft of office space for about Rs 2,800 crore.

Unitech Corporate Parks (UCP) — listed on the London’s Alternative Investment Market (AIM) and formed to invest in commercial real estate of India — has 60 per cent stake in the Gurgaon SEZ. Unitech has remaining stake in the SEZ.

According to sources, UCP is looking to sell the Gurgaon SEZ and has given themandate to property consultant Jones Lang LaSalle India to find out potential buyers.

The valuation of the deal is expected to be around Rs 2,800 crore, sources sai
d.An Unitech spokesperson declined to comment.


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