KCR inaugurates Waverock IT Park at Gachibowli

Telangana Chief Minister K Chandrashekar Rao on Tuesday inaugurated Phase 2.1 and launched Phase 2.2 of WaveRock, its flagship property in India, an IT Park in the heart of IT/ITES SEZ of Gachibowli.

This project is a part of larger IT/ITES SEZ promoted by Telangana State Industrial Infrastructure Corporation Ltd (TSIIC). Information Technology Minister KT Rama Rao, Tishman Speyer Chairman Jerry Speyer and senior officials of Tishman Speyer & ICICI Venture and State Government was also present on the occasion.

Speaking on the occasion, the Chief Minister said that the State Government would extend full support for the promotion of Information Technology across Telangana.

The Tishman Speyer, Co-developer of the project, operates over 358 projects totaling over 123 million sq. ft. with a portfolio of US$ 66.8 Billion in 11 countries spanning 4 continents (U.S., Europe, Latin America and Asia).

WaveRock Phase 2.1 has been developed with an investment of around INR 200 crores; this will add approx. 7 lakh sq. ft. of international standard IT work space accommodating approx. 7,000 IT professionals. The new building in the IT Park has already achieved substantial occupancy. Global companies like DuPont and Capgemini have taken up space in Waverock Phase 2.1. The building has 17 floors of IT office space and 4 floors of spacious parking.

The overall investment of Tishman Speyer in Waverock project is over INR 1050 crores. Once completed, total area of Waverock will be over 2 million sq. ft.

The first Phase of Waverock IT Park was launched in 2010 and has reputed global IT companies like TCS and Accenture. The building is LEED (C&S) GOLD certified and Phase 2.1 is in the process of receiving the prestigious LEED (C&S) Gold Certification and the similar Certification is targeted for Phase 2.2. Tishman Speyer also plans to develop Tellapur Technocity in Hyderabad which will be an Integrated Green City development under public private partnership with Government of Telangana and HMDA. It will encompass mixed-use development, including residential, commercial, IT offices, retail, hospitality, healthcare and civic amenities.