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Ansal Properties Signs Agreement With Iiml for Gurgaon Real Estate Projects

Ansal Properties & Infrastructure Ltd, a leading Indian real estate developer, has announced that the Company has signed two Agreements with IL&FS Investment Managers (IIML), the private equity arm of IL&FS to develop two Projects of Township and IT SEZ in Gurgaon, Haryana. The agreement was singed in Mumbai by Mr.Pranav Ansal, Director, Ansal API with IILM.

These Projects, the Township and IT SEZ, in Gurgaon, will be constructed spreading over 11 million sq. ft of office, residential and office space at an investment of approx. USD 125 Mn. These Projects are expected to have a turnover of exceeding USD 1 billion over the next 5 to 6 years.

Speaking at the occasion, Mr. Pranav Ansal, Director Ansal API said, “We are extremely delighted to sign this landmark agreement with IIML. This is yet another feather in our cap and will be amongst our landmark projects in the NCR region. We expect this project to finish in next 6 years. With Gurgaon growing as an important destination for business especially IT, we expect a very good response for the project”.

Courtesy : INRnews Correspondent Dated: 20/08/07

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