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UCP intends to invest in the development of real estate projects
in India, including IT SEZ* and IT Parks which. aimed specifically
at the IT and ITES industries. The trend towards business process
outsourcing ("BPO"), particularly by the IT and ITES industries
has created considerable growth in these sectors in India. This
growth has led to an increased demand for office space to cater
to IT and ITES businesses.
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*SEZs are areas approved by the Government of India
in order to encourage the generation of additional economic activity,
the export of goods and services, domestic and foreign investment
and the development of infrastructure facilities. UCP aims to invest
in IT SEZ developments as it believes that prospective tenants will
be attracted by the fiscal benefits afforded to the occupants located
in such zones. |
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