Gulf Oil real estate plans approved

Gulf Oil Corporation Ltd has announced that the Company has received approval from the Karnataka Udyog Mitra to build a State-of-the-Art, mixed use IT Park on its 40 acres plot at Yellahanka. The Park will also provide Hotel / Services Apartments, Retails, Multiplexes and other facilities.

The approved Master Plan, prepared by the Indian arm of Singaporean Architects, M/s. RSP Architect Planners and Engineers Ltd, is for a total area of 5 million sq. ft. The facility is situated on the Bangalore-Hyderabad Highway (NH — 7), is strategically located 7 kms. from the new Bangalore International Airport, towards the city side. Bangalore is today the major centre for the IT / ITES industry and the Park will add to the phenomenal growth of Bangalore in the Hebbal-Yellahanka block. The location will be highly suitable for international organisations to make it their business destination. The Park will provide full facilities needed by Knowledge Industry players. The supporting infrastructure for hospitality, shopping and entertainment will have an international ambience and a futuristic model.

The actual development of the Park will be jointly done by the Company and Aasia Properties Development Ltd. (APDL) which is the Hinduja Group's property arm.

The Company had also announced the development of a Knowledge City at Hyderabad spread over 100 acres. This plan has been conceptualised and necessary approvals sought from the Government of Andhra Pradesh. The development will be of bigger magnitude and would be of futuristic nature considering the importance of India as a global destination.