Hyderbad has emerged as a center for the nation's information technology business activity, "which has created an urgent need for world-class office space and housing to meet the requirements of multinational corporations," says Katherine Farley, senior managing director of Tishman Speyer.
The development consortium includes ICICI Venture and Nagarjuna Construction Co. The development manager is TSI Ventures, a partnership of Tishman and ICICI Venture formed in 2005 with the express purpose of investing in India.
In addition to the Tellapur project, TSI Ventures is developing 1.6 million sf of class A office space in Hyderbad's CBD, where companies such as Microsoft, UBS, Computer Associates, Franklin Templeton and Infosys already have set up shop.
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