Unitech enters into leasing agreement with Aricent, Fidelity

28 Mar 2014 Evaluate

Real estate major, Unitech has entered into leasing agreement with Aricent and Fidelity to lease about 10 lakh square feet (sq ft) in Gurgaon Infospace Tikri special economic zone (SEZ). This 15-year agreement is likely to fetch about Rs 1,000 crore to Rs 1,100 crore to Unitech. The current leasing rate at the Tikri SEZ is about Rs 60 to Rs 65, and the rentals go up by about 10-15% every 3-5 years. The SEZ is being developed by the Unitech and its group firm Unitech Corporate Parks (UCP), which is listed in London.

Earlier, the company has inked Rs 800-crore leasing deal with MNC human resource firm Aon Hewitt in order to lease space at one of its IT SEZs in Gurgaon. The HR firm has leased over eight lakh square feet of space at Unitech’s Gurgaon Infospace Tikri SEZ for a period of over 15 years.

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.

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