WaveRock Phase 2.1 will add approximately 7 lakh sq. ft. of international-standards IT workspace accommodating approximately 7,000 IT professionals.
Telangana Chief Minister K Chandrashekar Rao on Tuesday inaugurated Phase 2.1 and launched Phase 2.2 of WaveRock, an IT Park in the heart of the IT/ITES SEZ of Gachibowli.
This project is a part of the larger IT/ITES SEZ promoted by the Telangana State Industrial Infrastructure Corporation Ltd (TSIIC).
Information Technology Minister K Taraka Rama Rao, Tishman Speyer Chairman Jerry Speyer, and senior officials of Tishman Speyer, ICICI Venture and the State government were also present on the occasion.
Speaking on the occasion, the Chief Minister said that the State government would extend full support for the promotion of Information Technology across Telangana.
Tishman Speyer, co-developer of the project, operates over 358 projects totaling over 123 million sq. ft., with a portfolio of US $66.8 billion, in 11 countries spanning 4 continents (US, Europe, Latin America and Asia).
WaveRock Phase 2.1 has been developed with an investment of around Rs. 200 crores; this will add approximately 7 lakh sq. ft. of international-standards IT workspace accommodating approximately 7,000 IT professionals.
Once completed, the total area of Waverock will be over 2 million sq. ft. The overall investment of Tishman Speyer in Waverock project will be over Rs. 1,050 crores.
The new building in the IT Park has already achieved substantial occupancy. Global companies like DuPont and Capgemini have taken up space in WaveRock Phase 2.1.
The building has 17 floors of IT office space and 4 floors of spacious parking.
The first Phase of the WaveRock IT Park was launched in 2010, and has reputed global IT companies like TCS and Accenture. The building is LEED (C&S) Gold Certified, and Phase 2.1 is also in the process of receiving the prestigious LEED (C&S) Gold Certification. The certification is targeted for Phase 2.2, too.
Tishman Speyer also plans to develop Tellapur Technocity in Hyderabad, which will be an Integrated Green City developed under a Public Private Partnership model with the Government of Telangana and HMDA as partners. It will feature mixed-use development, including residential, commercial, IT office, retail, hospitality, healthcare and civic use. (INN)