Tishman Speyer and GIC sell office complex in Hyderabad, India
Tishman Speyer and GIC, Singapore’s sovereign wealth fund, have sold the WaveRock office complex in Hyderabad, India.
Designed by Pei Cobb Freed & Partners, one of the world’s leading architecture firms, WaveRock’s three development phases were completed by Tishman Speyer in 2010, 2014 and 2017. The property, which totals 2.5 million square feet, is 100 percent leased to world-class global technology, industrial & services giants such as Apple, TCS, Accenture, DuPont, GAP, AVEVA and other prominent multinational companies.
The property is located near the high-growth Financial District employment corridor at Gachibowli, a Special Economic Zone being promoted by the TSIIC (Telangana State Industrial Infrastructure Corporation).
“This sale represents a very successful culmination of Tishman Speyer’s build-to-core strategy for the India property market. It demonstrates a first in terms of a foreign investor demonstrating its ability to acquire lan