Hinduja group company Hyderabad-based Gulf Oil Corporation has received permission from the Karnataka state government to develop a 40-acre IT Park at Yellahanka.

According to company sources, the integrated park will feature hotels/service apartments, retail space, multiplexes and other facilities.

Gulf Oil has roped in Singapore-based architects, RSP Architect Planners and Engineers, to design the park which will have international and futuristic appeal.

The location would be highly suitable for international organisations to make it their business destination, Gulf Oil said in a note to the Bombay Stock Exchange (BSE).

The park will be developed jointly by Gulf Oil and Asia Properties Development, the Hinduja group's real estate arm.

The financial terms of the deal was not disclosed.