Ambuja invests $66 million to set up three IT parks in Kolkata, India

Published: 15-Mar-2010

India-based Ambuja Realty plans to invest over INR3000 million ($66 million), to set up three business parks at Kolkata in west Bengal, India.

Two parks would come up in the Kolkata’s IT hub-Salt Lake Sector V and the third plant would be set up at Rajarhat in the eastern fringes of Kolkata. Not only that, it is also planning to start construction of new projects in couple of months. It is in the process of receiving the necessary approvals. All the projects would be ready for possession within three years.

The company plans to invest INR2000 million ($44 million) for a 5 lakh square feet business park in Salt Lake, the second project would be set up over 1.5 lakh square feet with an investment of around INR600 million ($13.2 million). The Rajarhat project, with an area of 1.2 lakh square feet is coming close to the group's existing shopping mall, City Centre II, with an investment of around INR350 million ($8 million). The company also plans to set up office space in three of our upcoming mixed development projects in Siliguri, Patna and Raipur.

The company announced the launch of the second phase of the group's first business park, Ecospace, in Rajarhat. The second phase comprising of two blocks would have a saleable area of 4.5 lakh square feet. As per the company officials, the entire project is spread over 10 lakh square feet. Already 85% of the area in the first phase is leased or sold out to Bajaj Allianz, HDFC Bank, Voith, Thyssenkrupp, Indus Towers and Bayer Corp. The project will be completely ready by April 2010.

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