Hyderabad Metropolitan Development Authority (HMDA) decided to adopt public private partnership (PPP) model to develop international convention centre.
The authority has identified a total of 34-acre land at three different places (three parcels of 15.48 acre, 8.20 acre and 9.23 acre) to set up the Meetings, Incentives, Conferences and Exhibitions (Mice) facilities of international standards.
These facilities would be set up near Hyderabad International Convention Centre (HICC) and Hyderabad International Trade and Expositions (HITEX) areas in Izzatnagar near Madhapur.
The urban development authority is in the process of development of Khanamet area in 100 acre for commercial and mixed use zone, which is considered to have a lot of potential area after Madhapur.
The land is located between Hi-Tec City's MMTS station and the proposed metro rail station near Shilparamam. Hyderabad, especially HITEX area, has become a strategic location for Asia and Gulf regions for conducting international events.
The authority is in the process of engaging a transaction advisory consultants and has already invited the request for proposal (RFP) for this purpose. It expects to hire a consultant by February-end. The consultant would prepare documents like expression of interest, request for proposal, lease agreement and help the authority till it finalises the developer.