In a significant boost to Andhra Pradesh’s investment landscape, the 6th State Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu on 15 May 2025, approved 19 major projects with a cumulative investment of Rs 33,720 crore. Among these, Varun Hospitality received the green light for an ambitious Rs 899 crore project in Visakhapatnam.

The company is transforming the former The Gateway Hotel on Beach Road into a world-class mixed-use development. Inspired by Singapore’s Marina Bay Sands, the upcoming complex will feature a five-star deluxe hotel, luxury serviced apartments, upscale retail outlets, and premium office spaces, setting a new benchmark for urban development in the coastal city.

During the session, CM Chandrababu Naidu emphasized the importance of real-time monitoring of these ventures to ensure timely execution. He proposed the development of a digital dashboard to track project progress, field-level implementation, and job creation linked to each investment.