Vizag poised for commercial real estate boom, says MP Sribharat

Visakhapatnam’s growing industrial, IT and tourism sectors are expected to create new opportunities for real estate, especially in the commercial segment, Member of Parliament M. Sribharat said on Friday.

Inaugurating the three-day Vizag Property Expo-2026, organised by NAREDCO North Zone at Gadiraju Palace, Mr. Sribharat urged developers to look beyond housing and focus on commercial buildings, office spaces and modern business infrastructure. He said anticipated investments would push up demand, and asked developers to plan with the city’s long-term needs in mind.

Projects such as the Beach Road Coastal Corridor would boost economic activity and create jobs, he said. Steps were also being taken to install advanced 360-degree smart traffic cameras at about 110 major junctions to improve traffic management and public safety.

Under the Vizag Bay City initiative, a master plan covering nearly 50 sq. km is being prepared to transform the city into a walkable destination and a major tourism hub. He stressed that environmental protection, quality of life and modern transport must receive due attention alongside urban growth.

The expo, he said, would provide developers, investors and buyers a platform to explore opportunities and forge business partnerships.

GVMC Mayor Mukka Sravani, Palasa MLA Gouthu Sireesha, MLC Vepada Chiranjeevi Rao, TDP Visakhapatnam Parliamentary Constituency president Chode Pattabhiram and SBI Deputy General Manager Rahul Sankritya were present at the inaugural. NAREDCO Andhra Pradesh Chairman G. Haribabu, State President Gadde Chakradhar, and Expo Chairman C.H. Ramesh Babu were among those who attended.