HYDERABAD: A healthcare city with world class facilities will come up near Hi-Tec City.

US-based Alexandria Inc, will develop the healthcare city on five acres land with multispeciality hospitals, clinics and other allied medical facilities at Khanamet village in Serilingampally mandal in the city.

Officials said Alexandria Inc has recently entered into an agreement with the Hyderabad Metropolitan Development Authority for the five acre land, which was given at the rate of Rs 10 crore per acre.

HMDA has already earmarked about 200 acres MedTech Valley at Jawaharnagar area. Two companies have shown interest to establish their units. But Alaxandria Inc wanted land near Hi-Tec City where it purchased land from the urban development authority.

"The civil works will begin within three months and will be completed in two years. The promoter has already begun the process to award construction works to developers," a representative of the group told TOI.

A draft plan for the healthcare city has been prepared by Alexandria Equities Management (India) Pvt Ltd. According to the report, Indian healthcare market was about $38 billion and is expected to increase 15 per cent every year.

The healthcare city is being developed by Alexandria Inc on the lines of Dubai healthcare city, which is spread over 23.1 million square feet.

Source: TOI 13/8/10