Financial Daily from THE HINDU group of publications
Saturday, Aug 13, 2005
Financial Daily from THE HINDU group of publications Saturday, Aug 13, 2005 |
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Corporate
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Announcements Industry & Economy - Real Estate & Construction G Corp acquires BOC India's Yeshwanthpur land Our Bureau
Bangalore , Aug. 12 THE city, which is fast becoming a hot-spot for real estate developers, witnessed one more of its prime property snapped up by a Delhi-based company. The seller, a leading industrial gas manufacturing company had, in a notice to the Mumbai Stock Exchange, announced that it had disposed of the land of its closed factory at Yeshwanthpur for a consideration of Rs 48.9 crore. BOC India sold the property recently after relocating its manufacturing facility in the Peenya Industrial Area in November last year. The Yeshwanthpur property, believed to measure nine acres, has been bought by G Corp (formerly Gesco), a real estate company planning to establish its base here. The company already has won a contract to build a commercial complex on Ulsoor Road, near the Central Business District of M.G. Road. G Corp is planning residence-cum-retail facilities on the Yeshwanthpur land. Yeshwanthpur also saw some major deals in the recent past . The northern part of the city is already seeing fast expansion with the satellite railway station of Yeshwanthpur and proposed Metro Rail system expected to augment travel conveniences.
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