RMZ Corp will invest about Rs 14,600 crore ($ 2 billion) in commercial real estate space in Hyderabad by 2023.
According to Thirumal Govindraj, the managing director of the leading privately owned real estate developers Nexity with Hetero (3.3 million sqft) and Spire with Penna Cements (1.7 million sqft) projects are currently under construction near Raidurgam.
These two projects will add five million square feet of commercial space by 2023 to the city. In addition, RMZ Corp is involved in one more project – Vault, which is coming up in about 22.5 acres in the Financial District and will have seven million square feet of floor space. About one million sqft of commercial space in Nexity will be ready next year.
