BENGALURU, Feb. 25 -- Mindspace Business Parks REIT, which owns and develops Grade A office assets, on Wednesday said it has pre-leased a 530,000 sq. ft building at its Mindspace Madhapur campus in Hyderabad to Chalet Hotels Ltd for a luxury hotel project.

The development entails an investment of Rs.350 crore and is expected to be completed by the end of FY28.

The mixed-use building will include a 330-room hotel along with ancillary commercial space. The property will be developed through Mindspace REIT's special purpose vehicle, K. Raheja IT Park (Hyderabad) Ltd (KRIT).

Chalet Hotels is backed by K Raheja Corp, which is also the sponsor of Mindspace REIT.

Mindspace Madhapur, among Hyderabad's oldest and largest integrated business pa...