In Hyderabad, GMR Group is setting up a business park which is to be developed by GMR Hyderabad Aerotropolis, is a subsidiary of GMR Hyderabad International Airport.
GMR Airport Land Development CEO Aman Kapoor said, “the first tower is already leased out to four vendors. The second tower across 2.4 lakh sq ft is under construction and we plan to complete Phase 1 before the end of 2019. The whole business park will be completed within three-four years depending on the demand for office space.”
He added that the company has around 1,500 acres of land for the social infrastructure development plan which includes retail project across 19 acres of land, seven acres of the business park, family entertainment centre, 120 acres of logistics and warehouse space, and special economic zone.
“The business park is our first initiative and since the cities generally grow near the airport, we are optimistic of the demand at airport city. For that, we need to change the perception that the airport is far away from the city,” he said.