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|    Development Project 1 - TECH OASIS
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| Located in the National Capital Region (NCR) of Delhi, Greater Noida represents one of the fastest growing emerging townships of Uttar Pradesh. Viewed by most as the next IT destination in North India to accommodate the increasing demand for townships and planned infrastructure, the township is spread over 36,000 hectares, and supports a population of over 500,000 that is expected to more than double by 2021. Greater Noida, recognised as an alternative to the saturated locale of Gurgaon, is also beginning to capture some of the commercial space demands of non-IT industries and multi-national corporations.
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| Trikona TC’s property benefits by being located within the specially designated 650 acre Tech Zone within Greater Noida. The Tech Zone maintains excellent infrastructure, and affords optimum connectivity to Noida, Faridabad, Gurgaon and South Delhi. With the Central Business District of Noida only 35km away and the current international airport only 45km away, the zone’s value and importance will only improve as the proposed international airport in Greater Noida becomes operational.
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| Highlights |
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- In December 2007, SachsenFonds acquired an 8% share in the Mauritian SPV for £6.48 million resulting in a realised IRR of 161% and a multiple of 2.87 times return (“SF-I”)
- In January 2008, the Board of Approvals in India granted the project “Special Economic Zone” status. The granting of this status is estimated to provide a substantial cost saving in income tax and construction costs over the next 10 years and will offer additional incentives for businesses to occupy the land upon completion
- Post the period end: In June 2008, SachsenFonds acquired an additional 25% share of the original Mauritian SPV for £20.24 million, resulting in a realised IRR of 101% and a multiple of 2.86 times return (“SF-II”)
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| View Project Details |
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| £82.3 million* |
| 10.01 M sq. ft. |
100% owned** |
| Asset Class |
Residential Commercial
Hospitality |
| Project Name |
Uppal IT Park ‘Tech Oasis’ |
| Partner |
Panthera Developers |
Location
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Greater Noida,NCR of Delhi |
| Type |
IT Park with residential, commercial & IT space |
| Saleable Area |
10.01m sq. ft. on 76 acres |
| Capital Invested |
£28.9 M |
| *NAV as of 31 March 2008 |
£82.3 M |
| IRR at Date |
143 % |
Multiple at Date
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2.85 |
** The Mauritian SPV owns 100% of DP-1; however, Trikona TC has sold a portion of its ownership in the Mauritian SPV.
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