MUMBAI: US-based private equity major Blackstone Group and realty developer Salarpuria Sattva Group have extended their partnership to develop two more commercial projects spread over 6 million sq ft in Hyderabad, said two persons with direct knowledge of the development.With these additional two under-construction properties, the total development area under the Blackstone-Salarpuria Sattva platform has increased to 13 million sq ft in Hyderabad.
“Both the entities are expected to invest about ₹5,400 crore to develop these three projects. The total investment includes both equity and debt contribution from both the sides,” said one of the persons mentioned above.
In addition to the three under-construction projects, both Blackstone Group LP and Salarpuria Sattva Group are looking for more such development and inorganic growth opportunities.
Earlier, Blackstone Group had invested in an ongoing office project Salarpuria Sattva Knowledge City in Hyderabad In 2016.