The Hindu Business Line : TSI Ventures’ commercial project in Hyderabad

Hyderabad, July 9 TSI Ventures India Pvt Ltd, which has a $700-million fund for taking up infrastructure projects in India, has announced 2.2 million sq. ft. office property at Nanakramguda in Hyderabad.

The 18-storeyed property, named WaveRock, would look like a wave of glass, true to the name of the edifice. TSI Ventures is a 50:50 joint venture between the US-based global real estate developer Tishman Speyer and ICICI Venture, a private equity company.

Addressing a press conference here on Monday, Mr Kok Huat Goh, Chief Executive Officer of TSI Ventures, however, refused to divulge the investments that would go into the project.

LEED COMPLIANCE

The project, which would be taken up in three phases, would be built keeping in mind the requirements to become a LEED (Leadership in Energy and Environmental Design) rated building.

LEED ratings are given by the US Green Building Council (USGBC) based on the environmental friendliness of the buildings.

The first phase will be ready by the fourth quarter of 2008 with an area of 6 lakh sq. ft.

TSI Speyer has built some of the world’s most talked about buildings such as Rockfeller Centre (New York), Sony Centre (Berlin) and MesseTurm (Frankfurt).

TSI Ventures is looking at constructing more projects in India, particularly in the top seven cities that included Mumbai, New Delhi, Chennai and Bangalore.

“We have a $700 million fund to spend. As we go ahead we will be looking at raising more funds for the next projects,” Ms Renuka Ramnath, Chief Executive Officer and Managing Director of ICICI Venture, said.

Besides offering the green-friendly attributes, the WaveRock building would have 1.32 million sq. ft of parking on four plinth levels at a ratio of one space for every 700 sft. The glass curtain wall with double-glazing on all sides provides significant natural light to the work environment.

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