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Bengaluru-headquartered Sattva Group has committed an investment of INR 1,500 crore to develop a 30-acre mixed-use project named 'Sattva Vantage Vizag Campus' in Visakhapatnam, Andhra Pradesh. The initiative follows recent discussions with Andhra Pradesh's IT Minister, Nara Lokesh. Designed with a focus on sustainability and smart urban infrastructure, the project will feature Grade A office spaces and premium residences. The group expects the development to create over 25,000 direct jobs and support Andhra Pradesh's economic ambitions. This comes alongside Sattva's growing footprint in Goa, Pune, Kolkata, and a potential entry into the Mumbai market.
Bengaluru-based real estate developer Sattva Group has announced plans to invest INR 1,500 crore in a 30-acre mixed-use development in Visakhapatnam, Andhra Pradesh, as part of its broader expansion strategy. The decision to proceed with this major investment was made following a recent discussion between the group and Nara Lokesh, Andhra Pradesh's Minister for Information Technology, Electronics and Communications. Advertisement
The new project, titled 'Sattva Vantage Vizag Campus', will feature a mix of Grade A commercial office spaces, premium residential units, and integrated urban infrastructure. Sattva Group stated that the campus will be developed according to global benchmarks for sustainability and smart urban living, reflecting its commitment to responsible development.
The group said the Vizag project is expected to generate more than 25,000 direct employment opportunities once it becomes operational. It further expressed its intention to contribute meaningfully to the state's development trajectory. Sattva is already engaged in the development of another integrated township within Andhra Pradesh.
In a related move, Sattva Group Managing Director Bijay Agarwal recently disclosed that the company would channel approximately INR 800 crore into the Goa property market over a two-year horizon, owing to significant potential in the region. This expansion highlights the group's confidence in high-growth geographies beyond its traditional stronghold in South India.
Over its 30-year journey, Sattva Group has delivered over 74 million square feet across residential and commercial segments. Currently, more than 75 million square feet of projects are underway or in various planning stages. The company's geographic reach includes key urban centres such as Pune, Goa and Kolkata, with Mumbai being the next major market under consideration.
Back in March, Sattva Group, in partnership with Blackstone-sponsored Knowledge Realty Trust (KRT), submitted the Draft Red Herring Prospectus (DRHP) to market regulator SEBI to raise INR 6,200 crore through an Initial Public Offering (IPO). The offering aims to monetise 30 premium office assets via a Real Estate Investment Trust (REIT), which is slated for listing on the stock exchanges.
Source - PTI
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