Hyderabad: TSIIC proposes Rs 500 crore investment for luxury hotel and trade center
TSIIC is set to embark on a Joint Development Agreement for the creation of a 5-star luxury hotel alongside the Hyderabad Trade Centre at Hyderabad Knowledge City, Raidurgam.
Hyderabad: Telangana State Industrial Infrastructure Corporation Limited (TSIIC) is set to embark on a Joint Development Agreement for the creation of a 5-star luxury hotel alongside the Hyderabad Trade Centre at Hyderabad Knowledge City, Raidurgam. The proposed site spans approximately 3 acres, strategically located near the Raidurg Metro Station.
The project, with an estimated cost of around Rs 500 crore, aims to tap into the burgeoning business travel sector of Hyderabad-Cyberabad and meet the demand for top-tier office spaces of international standards. To this end, the State government is actively seeking globally renowned luxury hotel and hospitality players to invest in and operate within Hyderabad.
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According to the tender document, the intended development will encompass a 5-star luxury hotel coupled with a trade center. Situated within the HITEC City area, the site enjoys excellent connectivity, with the Raidurg Metro station a mere 500 meters away. Notably, it is in close proximity to key landmarks like Cyber Towers, Shilparamam Crafts Village, Durgam Cheruvu, and IKEA. The project site is also surrounded by prominent IT parks and institutions such as T Hub-2, T Works, and Image Towers.
The estimated project cost is anticipated to range between Rs. 500-550 crore, exclusive of land value. The development will comprise a basement, ground floor, and 15 upper floors.
The document states that the ground floor, spanning 60,636 sq. ft, will house lobbies, retail spaces, restaurants, and a 500-person banquet hall. The trade center will feature commercial areas for premium office and retail spaces, a lobby, and conference and meeting halls spanning a minimum of 2,18,000 sq. ft. Additionally, a 180-key 5-star luxury hotel is planned, complete with a swimming pool, restaurants, conference and banquet halls, and a range of other services.
