We will turn Vizag investment hub: Lokesh

Lokesh laid the foundation stone for the Varun Bay Sands project, to be developed by the Taj Varun Group on Visakhapatnam Beach Road. Tata’s The Gateway Hotel is being redeveloped into Varun Bay Sands. Union civil aviation minister K. Ramohan Naidu shared nostalgic memories of The Gateway Hotel and expressed his enthusiasm about participating in the foundation ceremony for its redevelopment.

Varun Group chairman V. Prabhu Kishore described the project as innovative and sustainable, reflecting the company’s commitment to environmental responsibility. Spread across three acres, the development is expected to be completed by 2027. He noted that plans for redeveloping The Gateway Hotel began in 2018, with all necessary approvals secured by 2020, but the company awaited a change in government in Andhra Pradesh.

Prabhu Kishore described the project as innovative and sustainable, reflecting the company's commitment to environmental responsibility. The construction, which will span three acres, is expected to be completed by 2027. He noted that Varun Hospitality has been planning the redevelopment of The Gateway Hotel since 2018 and obtained all necessary permissions in 2020; however, they were waiting for a change in the government in Andhra Pradesh.

Varun Group managing director V. Varun Dev said the towers would feature energy-efficient designs to minimise heat and UV exposure while incorporating ample greenery. The Varun Bay Sands project will include a 5-star deluxe hotel with 374 sea-facing rooms, serviced apartments, Grade-A office spaces and high-end retail outlets. Estimated at `500-`600 crore, the eco-friendly design will incorporate double-glazed glass and extensive greenery to reduce its carbon footprint.

The event was attended by civil supplies minister Nadendla Manohar, home minister Vangalapudi Anita, former minister Ashok Gajapati Raju, Vizag MP Sribharat, Varun Hospitality joint managing director V. Varsha and local MLAs.