Hyderabad: Phoenix Group, which claims to have delivered seven million sq feet of residential and commercial space in Hyderabad, is looking to expand its operations in the city. The group is planning to add one million sq feet more to the existing Special Economic Zone in Hi Tech city. This will take the total area to four million sq feet which will have 50,000 seating capacity from the current 20,000 seating capacity.
“The additional one million sq feet being added will also include a centre by Amazon that will be spread over 600,000 sq feet. We are also looking at taking in bigger companies. In addition, we are also planning to set up six new SEZs in Hi Tech city and Financial District areas in the next five years which will be spread over a 20 million sq feet area,” said Suresh Chukkapalli, chairman, Phoenix Group.
Hoping to stick to Hyderabad for the time being, Chukkapalli also said that Hyderabad has a lot of positives in comparison to other metropolitan cities like Bengaluru, Chennai, Mumbai and Delhi. “Good infrastructure, quick permissions, good environment, multi-cultural people and government support makes Hyderabad the most viable option for real estate to flourish. In addition, the cost of living in Hyderabad is almost 30-40 per cent lesser when compared to other metro cities,” he said.
The chairman was talking at the inauguration of CallHealth Healthcare Lounge.