Varde Partners has made an investment of over Rs 1,150 crore in Hyderabad-based Phoenix Group’s two under-construction information technology special economic zone (IT-SEZ) projects in Gachibowli locality of Hyderabad, Telangana.
Both the projects has a total three million sq ft development. The projects, Phoenix Aquilla and Phoenix Centaurus, are 50 percent completed and 12-18 months away from completion.
Phoenix Centaurus is a tower spread over two million sq ft across 17 large office floors adjacent to Microsoft’s operational campus, while Phoenix Aquilla will have one million sq ft development next to Amazon's operational campus.
Prior to inducting Varde Partners, the Phoenix Group has entered into a partnership with global entities such as CapitaLand, Xander and Lake Shore for its other projects.
The total development of three million sq ft in both these IT parks is pre-committed to tenants such as ZF Technologies and Micron Technologies.