Devanahalli Business Park to attract over $2 billion investment

Devanahalli Business Park to attract over $2 billion investment

Staff Reporter

Bangalore: One of the biggest projects coming up adjacent to the Bengaluru International Airport (BIA), the Devanahalli Business Park (DBP) is expected to attract an investment of $2.2 billion over the next five to seven years. The Karnataka State Industrial Investment and Development Corporation (KSIIDC) on Monday issued the Expression of Interest (EoI) to attract companies to develop 309 acres of land.

The DBP is coming up on land that was acquired for the BIA, and later found to be in excess to the tune of over 400 acres. Once completed, nearly 2.5 lakh people are expected to work or visit the DBP. Among those that have been planned in the park include multi-speciality hospitals, special economic zones, entertainment area, star hotels and others.

According to the EoI document, of the 413 acres of land, various Government agencies, including Departments of Tourism and Meteorology, Customs, Director-General of Civil Aviation, Mysore Sales International Limited, Karnataka Power Transmission Corporation Ltd. and others have retained 104.57 acres while the rest would be developed by the selected consortium.

Jones Lang LaSalle Meghraj Property Consultants, which was hired by the KSIIDC, for conducting detailed market survey and best use option studies has given a report based on which the land use plan of the business park was prepared by Mahindra Consulting Engineers (MACE). The JLLM study on medical and hospitality industry in Bangalore has revealed a significant demand-supply gap.

As an effort to popularise medical tourism, three multi-specialty hospitals will come up on an area of 26 acres, two with 680 beds each and the third with 560 beds, taking the total bed strength to 1,820. The JLLM survey has found a gap in the demand and supply for hospital beds, following which these multi-speciality hospitals have been proposed, which will also help medical tourism.

Apart from the hospitals, two special economic zones for information technology and IT Enabled Services on an area of 50 acres, aviation academy on 10 acres, light goods manufacturing and assembly section in 25 acres and two office campuses for non-SEZ office have been proposed. Finance district for IT and ITES offices will come up on 25 acres of land and central business district comprising 900-room, five-star, 1,300 room serviced apartments and retail and entertainment mall has also been planned.