Ascendas to develop IT SEZ in Gurgaon; forms JV with Dr Fresh

New Delhi, Apr 16 (UNI) Ascendas India Development Trust (AIDT) today said it plans to develop a 62-acre integrated project in Gurgaon, in partnership with Dr Fresh Healthcare Services Pvt Ltd.

The project will comprise an IT Special Economic Zone, as well as residential and commercial space, a company statement said.

The project, to be managed by Ascendas, is a joint venture with Dr Fresh which is set up by the promoters of Dr Fresh Inc, US and promoter of Dabur Group.

The Project, located along the Sohna State Highway in Gurgaon, will be developed over seven years, focussing on IT SEZ and residential and commercial development, it added.

The development is expected to be executed in phases, with the first phase scheduled to start in September this year.

The JV is also developing a 53-acre integrated project in Coimbatore.

Since its foray into India in 1994, Ascendas has developed IT spaces in Bangalore, Chennai and Hyderabad and currently has a project under development in Pune.

UNI SR PDT HT1826