L&T Metro Rail Ltd is now all set to launch “Hyderabad Next”– driven on an inspiring trend of creating ‘best-in-class’ mobility integrated with vibrant urban spaces. Hyderabad Next will provide ample parking & circulation, work, shopping, leisure, entertainment and healthcare.
Hyderabad Next offers various asset classes like office space, retail, hospitality, healthcare, mixed use, etc., accentuated by scalability and seamless integration with the Metro Rail system.
The entire opportunity of 18.5 million sq.ft of Hyderabad Next will be developed in a phased manner in sync with the market requirements over the next 8-10 years, across about 20 locations in different micro markets of Hyderabad. Development of about 1.1 Million sft of high quality retail and office space is underway in the first phase across three locations, to be commissioned in 2016.
More developments as the second phase of Hyderabad Next, would be commencing shortly.
Larsen & Toubro (L&T) Ltd, India’s largest engineering and construction conglomerate through its subsidiary L&T Metro Rail (Hyderabad) Ltd., is implementing the Hyderabad Metro Rail project as a Public Private Partnership (PPP) with Government of Telangana on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.
This mega infrastructure project has two broad components:
a) 71.16 kms of state of the art elevated metro rail system
b) “Hyderabad Next”, encompassing high quality Transit Oriented Real Estate Development of about 18.5 Million sq.ft, across multiple locations adjoining the metro rail corridors for commuters within the reach of stations.
HMR will be uniquely cater to the needs of commuters as well as the non-commuters of its adjoining/adjacent neighbourhoods; due to its design as a foot over bridge, coupled with unique total retail space of about 0.45million sq. ft. on all 64 stations.
Each centre is slated to have the following categories:
Retail: Convenience, daily needs & accessory stores
F&B: Quick service restaurants, large format food courts
Service: ATM, medical stores, grocery, vegetables, laundry centres, etc.
A typical station will have retail space ranging from 2,500 sft to 9,000 sq.ft at two different locations at a concourse level.