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GMR to invest 350 crores on Business Park at GHIAL

GMR to invest 350 crores on Business Park at GHIAL
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As part of monetisation of land at the Rajiv Gandhi international airport here, GMR Hyderabad International Airport Ltd

Hyderabad: As part of monetisation of land at the Rajiv Gandhi international airport here, GMR Hyderabad International Airport Ltd (GHIAL) is coming up with a 'Business Park' at the aerodrome, a senior official said here on Friday.

The park would comprise six towers with nearly one million sq. ft. of office space at an investment of about Rs 350 crore, the official said.

CEO of GMR-land development Aman Kapoor told reporters that the construction of one of the six towers has been completed and a portion of it was currently occupied by a GMR group company.

The entire project may take another two or two-and-and-half years to get ready, " he said. A part of the investment would be from internal sources and the rest through borrowing, he said.

A senior official of GMR said discussion were on with several companies for leasing out the space in the second tower which is getting ready.

GMR Hyderabad Aerotropolis, a wholly-owned subsidiary of GHIAL, was in the process of developing integrated ecosystem comprising commercial, retail, leisure and entertainment, hospitality, education healthcare aerospace and logistics at the airport on 1,500 acres, the GMR official said.

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