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Project Highlights
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Location
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: Bangalore
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Type
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: Mixed use - Hotel, Retail, IT Park (non-SEZ)
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Development
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: 0.87 million sq. ft.
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Completion
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: Hotel - Q3 2012; Retail;
Q1 2012; Commercial - On hold
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Project Summary
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This project is located in Whitefield, Bangalore, known as the Silicon Valley of India. Bangalore is one of the fastest growing cities of India and a key location for the IT industry.
The project is designed by Smallwood, Reynolds, Stewart & Stewart, and involves the development of a hotel, retail and an IT Park with an aggregate planned development of c.0.87 million sq. ft.
The development plan of the project has been revised in view of the current demand conditions. Consequently the development of serviced apartments has been cancelled, the area of retail space has been reduced from c.0.37 million sq. ft. to c.0.33 million sq. ft. and the commercial space from c.0.19 million sq. ft. to c.0.18 million sq. ft. The development of multiplex is currently on hold.
Interior and finishes work is in progress at the hotel and retail site. The mall is expected to be launched by March 2012. Terms have been agreed for c.146,000 sq. ft. of the retail area, representing c.54 per cent of the retail space currently under construction.
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