Renowned US-based firm Tishman Speyer’s in association with Ganesh Housing Corporation Limited (GHCL) entered into an agreement to develop a SEZ in Ahmadabad. In the first phase, it is going to develop 12 lakh sift of the area on a 64-acre site near NIRMA university in Ahmadabad. GHCL Managing Director G Patel has said a long-term partnership with the US firm is expected to live up to the expectations of GHCL customers and execute more and more projects. Tishman Speyers MD and country head Parvesh Sarma said that he was happy that the GHCL has set its foot on the soil of Ahmadabad, which is relatively new market where the scope for development is very high.
However, the same Tishman Speyers proposed to develop techno city project in Tellapur in 2008. The then HUDA paid Rs 600 crore to the HMDA for acquiring site for the Tishman project in Tellapur. Subsequently, on account of economic recession the Techno City project has been shelved. Doubts are raised over why the Tishman Speyers, which set its foot in Ahmadabad, shied away from Tellapur in Hyderabad. Had the Techno City project been realised in Hyderabad, the Pearls city would have attracted international construction firms.
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