Singapore Companies to Participate in ‘Phase Z.ro’ Development of Amaravati
The Singapore Consortium, comprising Ascendas-Singbridge and Sembcorp Development, intend to participate in setting up a visitor centre and exhibition gallery at the start-up area of Amaravati, the upcoming capital city of Andhra Pradesh.
The Singapore Consortium was appointed through a Swiss Challenge process as master developer of the Start-up Area which is spread over 684 hectares within the Guntur-Krishna districts, along the Krishna River.
Known as ‘Phase Z.ro’, the area will be developed by a joint venture company to be incorporated by the Singapore Consortium through their joint venture entity Singapore Amaravati Investment Holdings and Amaravati Development Corporation, an agency of the Andhra Pradesh government.
Ascendas-Singbridge is Asia’s leading sustainable urban development providers while Sembcorp Development is a wholly-owned subsidiary of Sembcorp Industries.
The development will be carried out in compliance with the Swiss Challenge process, said a statement on Monday.
‘Phase Z.ro’ is proposed as part of a larger catalytic development and would include a visitor centre and exhibition gallery that would span 4,000 square metres of gross floor area.
It would act as a foundation of the Start-up Area and a key touchpoint for visitors and citizens to get a glimpse of Amaravati as it develops.
It would also serve as a platform for business promotion and a gallery for sustainable urban solutions concepts applicable to the future capital city. ‘Phase Z.ro’ would also function as a community hub, with its expansive land area of over two hectares, it added.