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Tishman Speyer JV Plans Nearly 2M SF in India

NEW DELHI-TSI, a joint venture between Tishman Speyer and ICICI Venture, unveils plans to develop 1.5 million sf of high-quality offices in Hyderabad.

By Anita Howarth | Updated on September 06, 2006

NEW DELHI-Tishman Speyer and ICICI Venture have unveiled plans to develop 1.5 million sf of class-A office space on the outskirts of Hyderabad, India. The development will be located on 12 acres acquired in Nanakramguda Special Economic Zone. Tishman and ICICI have formed a joint venture vehicle, known as TSI, for the project.

The project is the first for TSI, which was formed specifically to developing office properties to meet the space needs created by India’s burgeoning economy. It is also the first Asian investment for Tishman Speyer–the New York City-based developer and owner of signature properties that is already active in North America, Latin America and Europe. Through TSI, a 50/50 joint venture, the partners plan to push into China after the India strategy is completed.

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