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A new phase of the IT park project Waverock in Gachibowli Hyberabad was inaugurated and another phase launched on Tuesday. This project is a part of larger IT/ITes SEZ promoted by Telangana State Industrial Infrastructure Corporation Ltd (TSIIC).
K. Chandrashekar Rao, Chief Minister of Telangana along with K.T. Rama Rao, Minister for IT & Panchayat Raj, Telangana and Jerry Speyer, Chairman and Co-Chief Executive officer and senior officials of Tishman Speyer & ICICI Venture, were present at the inauguration.
Tishman Speyer, co-developer of the project, operates over 358 projects totalling over 123 million sq. ft. with a portfolio of $66.8 billion in 11 countries.
WaveRock Phase 2.1 has been developed with an investment of around Rs 200 crore and will add approx. 7 lakh square feet of IT work space accommodating approx. 7,000 IT professionals, said the company statement. Waverock Phase 2.1 building has 17 floors of IT office space and 4 floors of parking.
“The overall investment of Tishman Speyer in Waverock project is over Rs 1050 crore and once completed, total area of Waverock will be over 2 million sq. ft,” added the company statement.
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