Tishman Speyer has entered into a strategic alliance with Ganesh Housing Corporation (GHCL) to jointly develop a Special Economic Zone (SEZ) project in Ahmedabad, Gujarat.
Presently, Ganesh Housing has around 64 acre earmarked for SEZ development at a location behind Nirma University.
Phase-I of SEZ, which will be jointly developed by Tishman and GHCL, will be of around 1.2 million sq ft of gross leasable area.
The SEZ has a potential development of around 12 million sq ft divided into processing and non-processing area. Both the companies have agreed to collaborate for the development, leasing and property management of the SEZ project in a phased manner.
The realty major will also liaison with various agencies in project development and leverage its wide international network for development and marketing of the SEZ project.