The Executive Director of Cushman & Wakefield, Mr Arvind Nandan, told Business Line that a report prepared for Andhra Pradesh Government titled Advantage AP, will be released shortly by the State Chief Minister, Mr N. Kiran Kumar Reddy.

Boosting investment

Its principle aim is to highlight various strengths and how the State, Hyderabad in particular and several other cities such as Viskhapatnam, Vijayawada, Kakinada and Warangal have become attractive destinations for investment.

“There have been some misconceptions about investment scenario. The report will help address them. For instance, the average consumption of space by IT companies is at about 3 million sq.ft per annum. But it had shot up to 6 million sq.ft in 2010, this reflects a huge growth. This is significant if you factor even the Telangana agitation related concerns,” he said.

AP has also bagged a significant number of special economic zones in the country, which includes a big chunk in the IT sector. Of the 43 odd IT SEZs, nearly half of them are under various stages of implementation. However, due to real estate slowdown, some had deferred their implementation, he said.

The Commissioner, Hyderabad Metropolitan Development Authority (HMDA),which is considered the second largest such authority encompassing a stretch of 7,100 sq.km, will now a new master plan, which seeks to address various issues relating to this megapolis up to 2031. This report is ready and will be released before the financial year end.

Speaking at Advantage AP the event, Mr. Tiwari said “the phase one of the second arm of the Outer Ring Road has become operational with effect from February 28. When fully completed, this will be amongst the most ambitious projects taken up in the country. The ORR will be backed by about 33 radial roads.”

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