Goldman Sachs to open office in Hyderabad, second in India – ET RealEstate

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HYDERABAD: Investment banking firm Goldman Sachs has identified the city as a new location for its global shared services footprint in India.

“The new Hyderabad office will be the second location for Goldman Sachs Services in India, and will complement the Bengaluru office footprint in terms of both execution and support that it will provide to the firm’s businesses globally,” a release from the state government quoted the firm as saying on Thursday.

Representatives of Goldman Sachs, in a video conference, interacted with Telangana Minister for IT and Industries KT Rama Rao and explained their plans to come to the city, the release said.

The new office is expected to become functional in the second half of 2021 with about 500 employees, and has potential for future growth.

It will leverage the expertise of the existing leadership in the Bengaluru office, while investing in a strong pool of competitive world class local talent, it said.

Key criteria for the new office location included the availability of commercial real estate and housing for employees, a diverse talent pool, quality infrastructure in the city, and support and commitment from the state government, Goldman Sachs said.

KTR stated that the government will provide complete support to the firm in their future ventures, the release added.

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Will hand over 85,000 homes in GHMC limits by December: Telangana Minister – ET RealEstate

HYDERABAD: Telangana IT, Industries and Municipal Administration Minister KT Rama Rao on Wednesday said that the government will hand over a total of 85,000 dignity houses in Greater Hyderabad Municipal Corporation (GHMC) limits by December 2020.

Rao made the remarks during a review meeting on the status of dignity housing schemes in Hyderabad.

“The government will hand over a total of 85 thousand dignity houses in GHMC limits by December 2020. No metro city in the country has constructed such a large number of dignity houses under any program,” he said.

During the meeting, the Minister instructed the officials to finalize the beneficiaries list by mid-September. He also asked the officials to visit the dignity housing sites and inspect the construction works.

“The government has allocated a total of Rs 9,700 crores for the construction of these houses. The Government will construct one lakh houses, with about 4000 houses each in 24 constituencies of Hyderabad. Beginning from this month until December, the government will be handing over the dignity houses to the beneficiaries,” an official release said.

As construction works at most of the sites are in the finishing stage, the Minister asked the officials to also speed up the development of infrastructure facilities including water supply, electricity, and other amenities.

The officials informed the Minister that a total of 75,000 2BHK dignity houses and 10,000 dignity houses under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and Valmiki Ambedkar Awas Yojana (VAMBAY) will be ready by the end of this December.

Minister asked the officials to identify the beneficiaries who handed over the land for construction of 2 BHK dignity houses and update their details at the earliest.

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