Ascendas
Shriram Properties, the Bangalore-based realty arm of Shriram Group, is reportedly close to settle a Rs 600 crore debt raised from Germany-based Hypo Real Estate Group during late 2007. Shriram Properties will settle the debt through sale of its IT SEZ in Chennai for Rs 500 crore to Singapore-based Ascendas. Hypo Real Estate Holding AG [...] Continue Reading »
Ascendas, a Singapore-listed technology park developer, is likely to buy an IT special economic zone (SEZ) of Shriram Properties in Chennai, for about Rs 500 crore. Shriram’s IT SEZ is part of a larger mixed use development on a 58 acre land (1.3 million sq. ft.), which it had bought from Standard Motors Factory in [...] Continue Reading »
