Blackstone Acquires Unitech’s IT SEZ

Blackstone has decided to buy Unitech’s IT SEZ in Gurgaon. This IT SEZ is partly owned by Unitech. According to this deal, Blackstone would pay Rs 2600 crore for this deal. The total area to be bought by this transaction by Blackstone would be 3.6 million sq ft.

The IT SEZ Infospace is promoted by Unitech Corporation Park, which is an entity of Unitech. Hence, Unitech is indirectly holding a stake in it. There are few other investors for the IT SEZ Infospace at Gurgaon, such as RBS, Brookfield Asset and Morgan Stanley.

The salient features of this infrastructure are:-

• It has multiple accesses to National Highway No. 8.
• Closer to the International airport, major hotels, shopping complex and so on. 
• The location of the park makes it an attractive destination. 
• Also the complex hosts some strong names in the various industries such as RBS, Sapient, BACI, E- Valueserve, Accenture, Ernst & Young, Bank of America, Amdocs within IT SEZ Infospace would have been good source revenue.

At present, the housing sector is under pressure because of the slowdown in the economy. Even the demand for leasing office has also dropped to half in the first half of the current calendar year which would seems to be a major cause for Unitech to go for such a deal.