UCP Plc’s strategy was to make investments in Indian commercial real estate developments specifically for the high growth IT (Information Technology) and ITES (Information Technology Enabled Services) sectors.
UCP raised approximately £360 Million by issuing and placing its Ordinary Shares on the Alternative Investment Market (AIM) of the London Stock Exchange on 20 December 2006.
The Company was focused on investment in Special Economic Zones (SEZ’s) dedicated to these industries or IT Parks, which are suitable for foreign direct investment. All six of the ongoing development projects in which UCP has invested were joint ventures with Unitech Ltd, a substantial listed Indian real estate group.
In 2014 the Company sold its interest in the six development projects and paid out most of the disposal proceeds as a distribution to shareholders.
The Company is entitled to recover some residual assets in India whose value was deducted from the sale consideration, and it is now focussing its activities on their recovery.
Admission to trading on AIM was cancelled on 6 May 2016.