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Unitech and its investment arm will sell a stake in the six special purpose vehicles (SPV) that currently own six commercial properties to the Reit.



This trust could likely be listed in Singapore, though Hong Kong or the London Stock Exchange are also options, R. Nagaraju, general manager, corporate planning, Unitech, said.

The Reit will be listed in the later half of 2008, after a portion of the construction work in each of the various projects is completed.

Reits, common in several developed countries, use money from investors to purchase and manage property. They are traded on major exchanges just like stocks. They are also granted special tax considerations and enable sharing in non-residential properties as well, such as hotels, malls, and other commercial or industrial properties that yield rental income. Much of the income from the properties owned by Reits is shared among its investors.

Unitech’s Reit will acquire a 60% stake in each of the six SPV’s created for the six commercial projects that Unitech is developing,. This stake is currently held by Unitech Corporate Parks Plc.

The projects include four information technology special economic zones (SEZ) in the National Capital Region (NCR), one IT Park in Noida and an IT SEZ in Kolkata. Unitech has received formal approvals for three special economic zones in NCR and one in Kolkata. Construction work has started on these three zones and a fourth information technology park in the Delhi suburb of Noida. A sixth SEZ in the Delhi area has received only in-principle approval from the government.

The six properties are expected to have a total leasable area of 21.5 million sq. ft, according to a document on Unitech Corporate Parks that was made available to investors during an overseas listing of the company.

In December, Unitech sold a 60% stake in each of the six SPVs to Unitech Corporate Parks Plc. for Rs4,400 crore. This was prior to the listing of Unitech Corporate Parks Plc. on the London Stock Exchange’s Alternative Investment Market. Unitech, however, retained a 40% stake in the projects.

“Once the construction work gets completed, we will float a Reit which will buy the 60% stake from Unitech Corporate Parks and also some of Unitech’s stake in the SPV," Nagaraju said.

While the amount of stake that Unitech will sell has not yet been decided, the stake sale will happen in three-four phases.

“We will start selling the stake as and when the buildings in the zones get completed. It will be done in a staggered manner," he said. All the SEZ projects are expected to be completed by April 2010.

The company expects to raise $500-600 million in each phase.

The management of the projects and the Reit, will however, be done by Unitech. “We will identify and lease the property to tenants," Nagaraju said. If Unitech manages the trust, it will receive a fee every year for this, which will be around 2% of the amount raised through the Reit, he added.
Download Safari 3.2 3
Everyone who has an interest in selling e-books on-line has questions. How do I promote my e-book? How do I construct a good sales page? How can I use Ad Words effectively? How can I learn about joint ventures? How will I drive traffic to my site? How can I generate a mailing list? The list goes on and on. It can be expensive to buy the information you want on-line for the help www.ebook-secrets-revealed.com. Sure, you can find e-books explaining almost everything you want to know, but the good e-books dealing with Internet marketing can run from $37-$97 a whack . Your goal is to make money on line, not to spend it. But there are ways to get the very best information about any question you may have about selling e-books completely free. I'll give you two ways here to pick the brains of the experts and not spend a dime! Method 1: Start out by visiting sites dealing with topics you need to learn more about. Visit sites that sell e-books related to the topic in question. First, this will give you a good idea of how competing publishers are designing their sales pages. You can learn a lot from this. Anyway, the successful publishers will certainly be good at collecting information from visitors at their sites. They will have squeeze pages set up asking you for your name and email address in exchange for their newsletter, mini-course, or free downloadable file. Remember, even a very good pitch page for an e-book may convert only 2-3% of first time visitors into buyers. But e-book publishers know that if they can collect names and e-mails from, say, 20% of their visitors--they can follow up via e-mail with special offers or bonuses to encourage their list names to buy later down the road. The real money in selling e-books on-line is in working the lists! But visitors don't give up their information easily. You must offer them something of genuine perceived value to get them to do this. So the big guys offer some pretty amazing stuff in order to get people to subscribe to their newsletter. They often give out free video tutorials, mini-courses, reports--things like that. I can tell you that they very best information related to Internet marketing I have ever received has been TOTALLY FREE from e-book publishers for the help www.profit-pulling-ebooks.com. Guys like Mike Fulsome, Jeff Johnson, Andy Jenkins and Brad Fallon at Somerset, and Michael Rasmussen regularly give away more quality free stuff from their sites than you could get buying dozens of $97 e-books on the same topics. They do this to 1.) Get your name on their mailing list, and 2.) Provide you with good quality material to build a relationship (this is a key) with you and make you a believer in the value of their expertise. If you aren't familiar with the guys I mentioned above you need to Google them up and learn from them. Read every word they write and subscribe to their newsletters and mini-courses. They are the very best in the business! Method 2: Right now you are reading a free article and you are getting some good tips. But here is the thing: Many of the big boys in the e-book publishing business regularly submit articles to directories to increase their brand awareness and products to tons of readers. And once you get some expertise in your area, consider writing and submitting articles of your own. Submit them to directories just like this one. It is an excellent way to create exposure and awareness of your products to large audiences!
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Both Property Vertical & Preeti Dutta are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Property Vertical has sinced written about articles on various topics from Computers and The Internet, The Internet and Computers and The Internet. Acquire information on Real Estate at For information on Real Estate Property in Delhi, Gurgaon and surrounding areas Vis. Property Vertical's top article generates over 8100 views. to your Favourites.

Preeti Dutta has sinced written about articles on various topics from Computers and The Internet, Small Business and Internet Marketing.
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