Xander to invest Rs 2,550 crore in various office projects in Hyderabad

Xander to invest Rs 2,550 crore in various office projects in Hyderabad

Hyderabad News

Xander Investment Management, the private equity real estate arm of the leading global investment firm Xander group has recently announced to invest Rs 2,550 crore in office projects in Hyderabad. The deal has been signed between Xander Investment Management and Hyderabad-based Phoenix Group for development of 4.5 million sq ft office space in Hyderabad.

As per the release issued by Xander Group, these office spaces will be located in Gachibowli and the work will be completed between 2020 and 2023. After the completion, these building will accommodate around 50,000 employees.

Arpit Singh, Principal at Xander Investment Management said, “We are driven to explore new avenues where we can positively leverage our extensive operating expertise and scale in the office sector in India, supporting export contribution and job creation in the country. We are pleased to work with Phoenix to expand our presence in the Hyderabad market,”

He further added that this develop-to-core acquisition in Hyderabad fits well with Xander’s existing fully owned office portfolio.

After signing the deal, Avinash Chukkapalli, director, Phoenix Group, said that the company is currently looking to establish long-term partnerships with landowners, tenants, customers, and strategic investors to develop real estate projects in Hyderabad.

Xander Investment Management deals in infrastructure, hospitality, retail, and real estate markets. In India, the company has been investing since 2006 and owns many office assets across multiple cities, including Bengaluru, Chennai, and Delhi. In Hyderabad, the group has earlier invested in various residential projects and in Bengaluru; Xander had bought an office building of around 250,000 sq. ft at Embassy Golf Links Business Park for Rs 350 crore from the Sanjay Ghodawat Group.

In recent time, the real estate market of Hyderabad has gained much momentum and hence many investors are eyeing this region for various commercial, retail and residential investments.