Hyderabad’s Mindspace set to transform with major redevelopment projects

The blueprint for this transformation is laid out in the Mindspace REIT Annual Report for the fiscal year 2023. The report reveals an impressive array of projects, chief among them being the redevelopment of the 1A and 1B blocks. This endeavor, slated for completion by December 2025, will usher in a fresh lease of life with a leasable area spanning an impressive 1.3 million square feet. The vision here is clear: to create a contemporary workspace that caters to the evolving needs of businesses.

Expanding the horizons further, Mindspace has set its sights on the redevelopment of buildings 7 and 8. With an estimated completion date in the third quarter of fiscal year 2027, this ambitious project boasts a leasable area of 1.61 million square feet. What sets this development apart is its dedication to environmental responsibility, aiming for LEED Platinum Rating and Wellness Certification Standards.

Notably, the Mindspace REIT Annual Report also introduces us to the Mindspace Madhapur Experience Centre, which is set to be completed by Q1 FY25. Spanning a leasable area of 0.13 million square feet, this hub of activity promises to be the heart of the business park, where work and leisure converge seamlessly. Thoughtfully designed workspaces are complemented by recreational facilities such as food courts, gyms, spas, indoor games, and fine-dining restaurants.

The report further highlights Madhapur as the most preferred micro-market in Hyderabad, consistently garnering nearly two-thirds of net absorption every year. This statistic underscores the enduring appeal of the business park as a prime destination for businesses seeking to establish or expand their presence in the city.