Tishman/ICICI joint venture hires new CEO, announces $2bn township project

As Kok Huat Goh takes the reins at TSI Ventures as interim chief executive officer, the JV between Tishman Speyer and ICICI Venture is also taking the lead in a $2bn project that could be the largest township in India.

TSI Ventures, a joint venture between New York developer Tishman Speyer and Indian private equity investor ICICI Venture Funds Management, has appointed a new chief executive officer and is also reportedly investing in a large-scale, public-private township project.

Tishman managing director Kok Huat Goh has stepped into the chief executive role, replacing former head Prakash Gurbaxani. Goh was working as a portfolio manager for Tishman’s funds in India and China. He joined the firm from the Singapore office of Ascendas Group in June 2006, where he oversaw a Singapore-listed REIT and the firm’s real estate investments in India and Singapore.

Last week, it was also reported that TSI Ventures has been selected as part of the investor consortium developing the 400-acre Tellapur Township, a $2 billion (€1.5 billion) project that is reportedly the largest public-private township partnership in India. Nagarjuna Constructions is also part of the consortium, which, according to local press reports, was the lone bidder on the Tellapur project.

Located near the central business district of Hyberdad, the mixed-use township will include class-A office space and housing for 30,000 people, as well as retail space and amenities. At 20 million square feet, the project could be the largest of its kind on the subcontinent.  

Tishman and ICICI Venture, the private equity arm of one of Indian’s largest banks, launched TSI in 2005 to invest in Indian property.