Allianz-Shapoorji intends to sell its stake in Hyderabad's IT SEZ
Real Estate

Allianz-Shapoorji intends to sell its stake in Hyderabad's IT SEZ

A JV between the Allianz Group and the Shapoorji Pallonji Group company is trying to exit roughly 2.5 million sq ft IT SEZ property Waverock in Hyderabad for around Rs 2,000 crore.

Apple, Accenture, and TCS are among the tenants at the building. Several institutional investors have expressed interest in the property.

The property was acquired by Allianz-Shapoorji's JV in 2019 from previous joint owners Singapore's sovereign wealth fund GIC and New York-based developer Tishman Speyer.

“The interest shown to acquire the asset indicates the confidence global institutional investors have in the Indian commercial real estate growth story. Income- producing commercial assets have proved to be a major draw for most of the global institutional investors that are active in India or are keen to invest here,” said Sankey Prasad, chairman, Colliers.

Tishman Speyer's IT SEZ, built in two phases, can house 20,000 professionals and is located near Hyderabad's financial district at Gachibowli.

See also:
Poonawalla Fincorp to sell TPG a housing financing unit for Rs 39 bn
Global bidders vie for Waverock complex in Hyderabad


A JV between the Allianz Group and the Shapoorji Pallonji Group company is trying to exit roughly 2.5 million sq ft IT SEZ property Waverock in Hyderabad for around Rs 2,000 crore. Apple, Accenture, and TCS are among the tenants at the building. Several institutional investors have expressed interest in the property. The property was acquired by Allianz-Shapoorji's JV in 2019 from previous joint owners Singapore's sovereign wealth fund GIC and New York-based developer Tishman Speyer. “The interest shown to acquire the asset indicates the confidence global institutional investors have in the Indian commercial real estate growth story. Income- producing commercial assets have proved to be a major draw for most of the global institutional investors that are active in India or are keen to invest here,” said Sankey Prasad, chairman, Colliers. Tishman Speyer's IT SEZ, built in two phases, can house 20,000 professionals and is located near Hyderabad's financial district at Gachibowli. See also: Poonawalla Fincorp to sell TPG a housing financing unit for Rs 39 bnGlobal bidders vie for Waverock complex in Hyderabad

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?