With an ambition to enhance its business in office space sector, Salarpuria Sattva Group has acquired 10 acres of premium land in Hitec City in Hyderabad. The deal is finalised from the Gurgaon-based property developer BPTP.
The Bengaluru-based builder has a plan to develop a 4-million sq. ft. office space on this land in the extension of its upcoming project Knowledge City in Hitec City which is planned with the fund of $1 billion. The company is keen to invest more than $2 billion on office space construction in Hyderabad by 2020. It has recently developed a 7 million sq. ft. IT Park in the city in a joint venture with Blackstone.
With the delivery over 4 million sq. ft. of premium space in Hyderabad, Salarpuira Sattva has another 10 million sq. ft. of commercial space under construction. The company has some of the biggest clients at the business park that includes Novartis Healthcare and Microsoft India (R&D).
“Apart from the above clients, the group is also under discussion to lease 5 million sq ft to various global clients,” says personnel at Salarpuria Sattva.
Source: ET Realty