Global realty firms looking up to city

By Mouli Mareedu

Several global real estate giants are opting Hyderabad for the expansion of their business activities, Tishman Speyer India Private Limited being one of the early birdsMajor real estate firms in the United States are eyeing at India for expanding their business activities. Not surprisingly, most of them find Hyderabad a safe bet as the city’s infrastructural system is of international standard.

Massive real estate ventures — both residential and commercial — are on the pipeline. In the wake of the recent economical developments, India happens to be the best place as all infrastructure amenities are obtainable at lower prices than in the US.

Tishman Speyer India Private Limited is one such US firm which opted to expand its business activities in India. A Robert Paratte, senior director and official spokesperson of Tishman Speyer, said real estate business in India would have marvelous growth as numerous overseas firms are planning to start their business activities in this country.

“We chose Hyderabad and started a massive commercial project here as plenty of infrastructure facilities are available and all kinds of material can be obtained at the cheapest price to build huge constructions in India,” Robert says. Tishman Speyer is one of the leading real estate firms in the world. It was incorporated in 1978 and headquartered in New York.

It has acquired, developed and operated over 270 projects totaling over approximately 113 million square feet and more than 91,000 residential units, and a property portfolio in excess of US$76 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York’s Rockefeller Center, the Chrysler Center and the Peter Cooper Village, Stuyvesant Village residential complex in New York, Berlin’s Sony Center and Torre Norte in São Paolo, Brazil.

Robert says the Tishman Speyer provides utmost quality services for its worldwide network of premier leaseholders. In each of its properties around the globe, the Tishman Speyer provides a reliable international quality environment for business worldwide. And, in each city, Tishman Speyer’s assets establish new quality standards for meeting the needs of its stylish cosmopolitan dweller.

The Tishman Speyer is concentrating on Chennai and Hyderabad starting a few ventures — both residential and commercial. In Hyderabad, Tishman Speyer has two projects, one is the Tellapur Integrated Township which will come up in 400 acres at Tellapur in Hyderabad. Another prestigious commercial venture is WaveRock, Class A office, IT Park, which is being constructed under Special Economic Zone (SEZ).

The WaveRock is sprawling in 12.13 acres at Nanakramguda near Gachibowli in Hyderabad. Explaining about the WaveRock venture, Robert says it is a joint venture by Tishman Speyer and ICICI and it is designed to be a world class office campus serving over 20,000 professionals located in Hyderabad, a Class A office space in a Special Economic Zone being promoted by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

“As a signature design by world renowned architects Pei Cobb Freed and Partners architects and RSP, Architects Planners and Engineers, WaveRock is a green building poised to set a new standard in India’s commercial real estate landscape,” Robert added. “The WaveRock will have two massive buildings, one is 10-storeyed and another one will be 20-storeyed. The construction works will be held in a phased manner. We are planning to complete 6,95,500 square feet for 10 office levels and 4 parking levels in the first phase. Two amenities levels, 16 office levels and four parking levels will be constructed in the second and third phases of construction. The total project will be ready by 2010,” Robert says.

The WaveRock advantages are well-connected site with easy access to the Gachibowli Expressway and the Outer Ring Road (ORR), located opposite to a new luxury Ista Hotel in the high growth employment corridor already home to Microsoft, Franklin Templeton, UBS, CA, Infosys, Wipro and the Indian School of Business (ISB).