Focus on commercial infrastructure, Sribharat tells real estate developers

Member of Parliament M. Sribharat called upon real estate developers to focus not only on residential projects but also on commercial buildings, office spaces and modern business infrastructure to meet the city’s growing and future requirements.

Mr. Sribharat inaugurated the three-day Vizag Property Expo-2026, organised by NAREDCO North Zone at Gadiraju Palace on Friday.

Palasa MLA Gouthu Sireesha, MLC Vepada Chiranjeevi Rao and SBI deputy general manager Rahul Sankritya were among those present.

Addressing the gathering, the MP said Visakhapatnam was witnessing rapid urban expansion and that the anticipated investments, industrial growth, IT sector expansion and tourism development would create significant new opportunities for the real estate industry.

He observed that the demand for commercial real estate and office spaces was expected to increase substantially in the coming years. He urged developers to take up quality commercial projects equipped with modern infrastructure and plan their investments by considering not only present requirements but also the city’s long-term growth potential.

Highlighting the importance of infrastructure development, Mr. Sribharat said major projects being undertaken in Visakhapatnam, including the Beach Road Coastal Corridor, would give a further boost to the city’s economic activity. These initiatives would generate employment, strengthen commercial and service sectors and create additional opportunities for the real estate industry.

Referring to traffic management and urban infrastructure, the MP said steps were being taken to install advanced 360-degree smart traffic cameras at around 110 major junctions across the city. The initiative aims to improve traffic management through modern technology while enhancing public safety.

He also stated that plans were being developed for a comprehensive master plan covering approximately 50 square kilometres under the Vizag Bay City initiative. The objective is to transform Visakhapatnam into a walkable city and a leading tourism destination. He emphasised that environmental protection, improved quality of life and modern transportation facilities must receive equal importance in the city’s development.

The MP noted that the real estate sector was not merely about constructing buildings but also played a significant role in driving economic growth, generating employment and attracting investments. He expressed confidence that the Vizag Property Expo would provide a common platform for developers, investors and prospective buyers to explore various opportunities and build meaningful partnerships.

He called upon all stakeholders to make effective use of the expo and actively participate in Visakhapatnam’s growth and transformation into a modern, globally competitive city.

NAREDCO Andhra Pradesh Chairman G. Haribabu, State President Gadde Chakradhar, NAREDCO Property Expo Chairman C.H. Ramesh Babu, representatives of the association, real estate developers, construction companies and investors attended the event.