Unitech to liquidate assets for debt repayment

Unitech has decided to sell non core assets such as land, IT parks and SEZs to pay off debt, which is at Rs 5,300 crore. The company expects to garner Rs 300-400 crore this year by selling land parcels, including one in Tiruvanathapuram. Unitech has also started talks with various PE funds as well as overseas real estate investment trusts to sell its four SEZs and one IT park.The company has close to 5.5 mn sq ft of rent producing office space and another 2 mn sq ft will be ready in the next 18 months. This is spread over four SEZs and one IT Park.Contact: Unitech.Tel: 0124-412 5200. Fax: 0124-238 3332.Website: www.unitechgroup.com