Tishman Speyer Team Tapped for $2B Development

HYDERBAD, INDIA-The Hyderabad Urban Development Authority has selected a consortium that includes New York City-based Tishman Speyer for a $2-billion, 20 million-sf development here on 400 acres that will be known as the Tellapur Township. The project is the first public-private partnership of its size for township development in India.

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.