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The recent central government notification allowing floor-wise denotification of IT Special Economic Zones (SEZs) is expected to rejuvenate the appeal of IT/IT-enabled services SEZs, transforming them into dynamic office hubs, according to a JLL India study. ....
Much-awaited clarity on the denotification process for special economic zones is good news for commercial real estate sector, but permission for denotification is subject to certain conditions and the benefits won t accrue immediately. ....
Flexibility to demarcate part area without significant cost implications is a positive. The changes made to the Special Economic Zones Act, 2005 (SEZ Act) on December 6, 2023, by the Department of Commerce, are anticipated to greatly decrease the vacant office spaces in major cities of India due to increased leasing activities. ....
PETALING JAYA, Dec 7 The Johor-Singapore Special Economic Zone (SEZ) will create a conducive environment for businesses and attract domestic and foreign investments. Rehda. ....
Government has granted relief to office park owners and operators by allowing partial and floor-wise denotification of Special Economic Zones (SEZs) through an amendment to SEZ Rules, 2006. The move permits demarcation of a part of SEZ built-up areas for non-processing uses, with a focus on information technology and IT-enabled services. ....