CM Inaugurates Tishman Speyer’s WaveRock Phase II

Telangana Chief Minister KCR  inaugurated the second phase of the WaveRock project that has been developed with an investment of Rs. 200 crore, which will add about seven lakh sq ft of international standard IT work space accommodating about 7,000 IT professionals. Tishman Speyer and ICICI Venture’s Wave Rock at Nanakramguda already had companies queuing up for space. Global companies such as DuPont and Capgemini have already taken up space in the second phase building, which has 17 floors.

Tishman Speyer has to it credit some of the world’s most talked about buildings such as Rockfeller Centre (New York) and Sony Centre (Berlin). Apart from projects in Mumbai, Delhi, Bangalore, Pune and Chennai, TSI also plans to develop a high-end integrated township project in Tellapur, Hyderabad. 

Reiterating Telangana government’s commitment to turn Hyderabad into a world class smart city, the Chief Minister, K.Chandrasekhar Rao, on Tuesday assured all possible support to the Information Technology (IT) sector looking to invest here.

Appreciating Tishman Speyer for the new block, IT Minister KTR said he looked forward to the firm adding more such iconic workspaces to the landscape of Telangana.

Tishman Speyer is investing Rs.1,050 crore in the Wave Rock project, which once completed, would be spread over a total of 2 million square feet.

Jerry Speyer, Chairman and Co-Chief Executive Officer, Tishman Speyer welcomed the government announcement on single window clearance and said they would continue to work on Tellapur Technocity project. He said the company has launched work on the third phase of WaveRock. The overall investment in its flagship property in India would be Rs. 1,050 crore, including Rs.250 crore in the current phase of the project.

“This (current) phase of Waverock will be ready in a year or two,” he told media persons today.

The global real estate company operates over 358 projects totalling over 123 million sq ft with a portfolio of $ 66.8 billion in 11 countries, spanning four continents.

WaveRock WAs promoted by Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and will offer high specification development including a glass curtain wall with double glazing on all sides, 1.32 million sq. ft of parking on four plinth levels at a ratio of one space for every 700 sft, a traffic management system that ensures no travel congestion at exit and entry points during peak hours, high speed custom elevators with a maximum 30 second waiting time, automated building management systems, ready to use fully equipped business center, world class gym, multi-cuisine food courts, fine dining restaurants, coffee and juice bars, banks and convenience stores.