AIDT to develop Gurgaon SEZ

Mumbai: Ascendas India Development Trust (AIDT), promoted by Singapore-based Ascendas, announced a tie-up with Dr Fresh Healthcare Services of Dr Fresh Inc, US and Burmans of Dabur Group, to develop a 62-acre IT special economic zone and residential and commercial space in Gurgaon.

The project is estimated to cost Rs 1,500 crore and AIDT will hold 51 per cent stake in the project. The project will have over 4.27 million sq ft of IT space and 2.6 million sq ft is planned for residential and commercial space.

The Rs 1500 crore AIDT invests in commercial, residential and hospitality projects, among others, in the country.

Ascendas recently announced its tie-up with IREO, a foreign investor in Indian real estate, to develop a realty project in Coimbatore.

Ascendas President and CEO Chong Siak Ching said, “We are pleased to partner Dr Fresh in setting new benchmarks for business space to mark our investment in North India. The Gurgaon development is yet another example of our continued focus and commitment to India and our clients.”