News: Indian property cos jostle for SEZ pie
(TNN 12/04/2006) New Delhi - There is growing investor interest in the 100-odd special economic zones proposed to come up across the country. Landmark Holdings of the Dalmia Group, along with US-based affiliate Banyan Real Estate, is picking up a 16.5% stake in Vipul’s Rs 1,200-crore IT SEZ in Gurgaon for Rs 75 crore.
Gaurav Dalmia, director, Landmark Holding, told ET that his group would be keen to invest in other SEZ projects. Banyan Real Estate is a SPV floated by US-based institutional investors, targeting Indian real estate market.
Several real estate developers who have announced SEZ projects have received positive feelers from domestic and international investors over the last one month and similar such deals are currently in the pipeline, industry players said.
In the last one month, corporates like Reliance and developers like DLF, Mahindra Gesco, Ansals have evinced interest in setting up SEZ projects across the country.
As per industry estimates, the government has received around 180-odd proposals for setting up multi-product and industry-specific SEZs across the country over the last two months. Mr Dalmia said Vipul’s SEZ, which received in-principle clearance from ministry of commerce last month, will cater to IT and BPO companies.
The construction will be spread over three to four years. Landmark Holding has investments in real estate projects in cities like Delhi, Mumbai, Calcutta and other metros and towns, in projects worth around Rs 5,000 crore.
Gaurav Dalmia, director, Landmark Holding, told ET that his group would be keen to invest in other SEZ projects. Banyan Real Estate is a SPV floated by US-based institutional investors, targeting Indian real estate market.
Several real estate developers who have announced SEZ projects have received positive feelers from domestic and international investors over the last one month and similar such deals are currently in the pipeline, industry players said.
In the last one month, corporates like Reliance and developers like DLF, Mahindra Gesco, Ansals have evinced interest in setting up SEZ projects across the country.
As per industry estimates, the government has received around 180-odd proposals for setting up multi-product and industry-specific SEZs across the country over the last two months. Mr Dalmia said Vipul’s SEZ, which received in-principle clearance from ministry of commerce last month, will cater to IT and BPO companies.
The construction will be spread over three to four years. Landmark Holding has investments in real estate projects in cities like Delhi, Mumbai, Calcutta and other metros and towns, in projects worth around Rs 5,000 crore.
posted by InCar Group Press Room at 14:33
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