GMR to invest in Business Park in Hyderabad

GMR Infrastructure Ltd plans to invest around ?350 crore to set up its first office park spread over 1 million sqft in Hyderabad in the next 3-4 years as part of its larger land monetisation plan, said a top company executive. The New-Delhi based group, which operates Delhi and Hyderabad airports apart from other infrastructure businesses in India, has been looking to monetise several non-core assets including land parcels to bring down its mounting debt. Located within the vicinity of Rajiv Gandhi International Airport, Hyderabad, the 7-acre business park is being built as part of its planned GMR Airport City, a 1500-acre real estate development that would consists mostly of hotels, retail space, logistics, entertainment, healthcare and educational institutions.