Mumbai : Reliance Communications Ltd has put on sale its prestigious 113-acre Dhirubhai Ambani Knowledge City campus, which houses its corporate and business headquarters, in Navi Mumbai.
The debt-laden telecom company has also put on sale 12 buildings located on the campus, widely referred to as DAKC, and seven buildings in Millennium Business Park, a public notice by realty broker Jones Lang LaSalle said.
Earlier this month, Reliance Communications got a seven-month reprieve from lenders for time to cut 60% of its 450-bln-rupee debt by December, reports Cogencis. The company intends to achieve this by selling a part of its tower company and merge its wireless operations with Aircel Ltd. The Navi Mumbai campus of Reliance Communications has statutory approvals to build an more 13 mn sq ft of office and residential buildings, Jones Lang LaSalle said.
Reliance Communications, which is also open to joint development of the land with another company, has offered commercial space in two premium buildings on the campus, which houses its corporate and business headquarters. The company had also put up for sale its 318,759 sq ft business centre in New Delhi.
