Unitech is reportedly planning to sell its Gurgaon IT SEZ, which is a part of London’s Alternative Investment Market (AIM)-listed Unitech Corporate Parks for an expected price of Rs 2,500 crore. In this regard, Tishman Speyer and Mapletree have submitted Expression of Interest (EoI) with the necessary documents. Further, GIC and Blackstone also are among the interested buyers.
The company has been considering selling a part of Unitech Corporate Parks' assets to reduce its debt, however, the board of the AIM-listed entity is against the sale currently as it wants to further lease the space, which would help in realizing better value when the sale happens. Unitech Corporate Parks holds 60% stake in the assets, including this SEZ, while, Unitech holds remaining 40% stake.
Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.
