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Home / News / Business News / Reliance Communications looks to sell 133 acre IT park
  • Business

    Reliance Communications looks to sell 133 acre IT park

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Jun 20, 2017, 05:08 pm
    Reliance Communications looks to sell 133 acre IT park
    Credits:
  • Anil Ambani-led Reliance Communications Limited is looking to snag buyers or jointly develop the massive 133 acre Dhirubai Ambani Knowledge centre (DAKC), reports said.

    The IT park that is located in Navi Mumbai has potential to be developed up to another 13 million sq. ft.

    Residential zones in the tech park have also been in the works for development, the reports said.

  • In this article
    The DAKC IT Park What does the IT Park comprise of? Is the move aimed at paring RCom's debts?
  • Information

    The DAKC IT Park

  • Four years ago, India's Reliance Group partnered with China's Dalian Wanda Group to jointly develop the 20 million sq. ft. tech park, and other development projects along Hyderabad's business districts.

  • Asset sale

    What does the IT Park comprise of?

    What does the IT Park comprise of?
  • The IT park consists of twelve office buildings, and two premium buildings that have a total size of around 6 lakh square feet.

    The tech park also includes seven buildings in Millenium Business Park that is located in its premises.

    An advertisement for the sale also stated that the park has around 13 million sq. ft. that has potential for further development.

  • Debt restructuring

    Is the move aimed at paring RCom's debts?

    Is the move aimed at paring RCom's debts?
  • With debts piling up for the communications giant, the company is attempting to trim its assets by selling them and reducing its liabilities.

    Earlier this month, the company was looking to sell its Delhi office at Connaught Place.

    The sale of both its Mumbai and Delhi properties could ease its debts by around Rs. 10,000 crore.

  • India
  • Delhi
  • Navi Mumbai
  • Connaught Place
  • Reliance
  •  
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