Hyderabad-based real estate developers Suchirindia will be setting up two adventure parks at an estimated cost of about Rs 300 crore in Hyderabad and Bangalore.
The Hyderabad park would come up on 230 acre at Malkapur near its Gold Coast project on the Vijayawada highway. To be completed in two phases, the first phase would be ready by November next year.
The second project will be in Karnataka near the Bangalore International airport at a cost of Rs 150 crore, said Suchirinidia chief executive officer Y Kiron.
The parks will have facilities for camping and training in adventure sports including para gliding, hot air balloon rides, bungee jumping, rappelling, trekking, and a golf course.
The company would hire Singapore-based architects for designing the parks, which will have some aspects built on the lines of Takeshi’s Castle, a Japanese game show aired on Pogo channel.
“We are expecting 1.5 million footfalls a year to the adventure parks,” Kiron said, adding the company was looking to woo students with special packages and professionals working in and around Hyderabad. It will devise personality training programmes for youth and conduct short duration camps for them.
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Adventure parks apart, Suchirindia will spend about Rs 50 crore for setting up two resorts near Hyderabad. While the Papyrus Port, which will be based on Egyptian themes, will come up on the Bangalore highway, Darling Cave, a contemporary resort, has been planned towards Shameerpet.
This apart, it will invest about Rs 2,000 crore for building budget hotels in Nagpur, Mysore, Pune, Bhopal, Visakhapatnam, Hyderabad among other places over the next three years and will finalise the locations in six months.
In Sri Lanka, the company is proposing to construct a luxury hotel with a casino and other facilities at the airport and has submitted the Rs 270-crore proposal to the Board of Investments there. The project would come up on 5.5 acre. It is also planning to develop cricket and golf villages on 100 acre in south Sri Lanka.
In all, the company has plans to take up real estate projects in about 7 million sft over 450 acre in India with investments of about Rs 4,000 crore. It will fund Rs 1,000 crore from internal resources and raise Rs 3,000 crore through equity and debt.
“We will decide on the partners and funding on a project- to-project basis,” Kiron said. The company has a land bank of about 2,000 acre in Hyderabad and Karnataka.