Chief Minister K Rosaiah will commission Wave Rock Phase I and launch Phase-II of Tishman Speyer Park at Andhra Pradesh Industrial Infrastructure Corporation, Nanakramguda IT Special Economic Zone at 1030 a.m on Tuesday.
Tishman Speyer entered into an Memorandum of Understanding with the State Government on July 26, 2006 for construction of 10 lakh sft of state-of-the art building to suit IT Office facility of international standards in 5 years over 12 acres of allotted land at a cost of Rs.4.27 crore per acre at APIIC IT SEZ Nanak Ramguda, RR District.
Tishman Speyer headquartered at Rockefeller, New York City, USA is one of the World’s leading developers of real estate. Its operations spanning 30 cities, 11 Countries spread over five continents. Currently, over $50 bn of assets are under its management.
Tishman Speyer has completed the phase-I of the“Waverock” well in advance of the stipulated time frame, at a cost of Rs.600 crore with 7,00,000 square feet having 10 floors generating employment of about 7,000 professionals. The built up space is to be leased out to prestigious Indian and Foreign IT companies.
Waverock Phase II, estimated to cost Rs. 700 crore, when completely built out will provide 1.65 million square feet of class ‘A’ IT/ITES office space. This 15-19 storey building will be developed in three sub-phases over an area of 650,000 sq. ft each.
Each phase will have flexible floor plates with central cores, designed to provide maximum efficiency for typical IT/ITES requirement. The building will meet LEED Gold standards affirming Tishman Speyer’s global commitment to environment sustainability.
Jerry Speyer, Chairman & Co-CEO, Tishman Speyer, USA, Michael Spies, Sr. Managing Director, Tishman Speyer, USA, Rakesh Sharma, Managing Director & Country Head-India, Tishman Speyer India Pvt Ltd; Sanjeev Dasgupta, President, ICICI Ventures, S.Shiva Rama Subrahmanyam, Chairman,APIIC, K. Ratna Prabha, IAS, Principal Secretary, IT&C Dept, B.R Meena, IAS, Vice Chairman & MD., APIIC, P. Venugopal, Development Commissioner, AP IT SEZ, captains of ICT industry, other dignitaries are participants.
