TSI ventures to develop office space in Hyderabad

Bangalore, sep 27 (UNI) TSI Ventures (India) Private Limited, a joint venture between Tishman Speyer and ICICI Venture today announced that they will develop 1.5 million square feet of Class A office space on the outskirts of Hyderabad.

TSI has engaged internationally-renowned architectural firm Pei Cobb Freed&Partners LLP to design this property that is expected to serve one or more leading multinational corporations with substantial space needs in this region, a Company release said here.

TSI Ventures would build one or two signature-quality towers on 12 acres of land they have acquired in Nanakramguda SEZ in Hyderabad. The project would consist of either one or two office buildings with large floor plates and up to 20 stories. Total project cost was expected to be in excess of US dolalrs 100 million.

Groundbreaking is expected to occur in 6-12 months, with completion of at least the first phase in 2009.

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