Unitech Corporate Parks have offered around 3.6 million square feet of properties in India's Gurgaon IT Special Economic Zone to a number of private equity firms, said a person who has knowledge of the plans. The list of interested private equity firms include Kotak Realty Fund, Singapore-based Mapletree, GIC and Blackstone who.
The board of Unitech Corporate Parks is currently in India and has designated international property consultancy Jones Lang La-Salle to work on a bid process which should begin in the next couple of weeks. The board of Unitech Corporate Parks is chaired by Donald Lake and also includes managing director of Unitech, Ajay Chandra,
"Earlier, the board wanted to wait till the asset is more mature before putting it up for sale. Now, it is more receptive about selling this asset as 75% of it is close to completion," said the source who did not wish to be named. Unitech Corporate Parks are said to use the money in reducing its debt.
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