Hyderabad-based proptech startup Fracspace is gearing up to launch its “Altaira” project in Sri Lanka, with a planned investment commitment of ₹120 crore.
The Hyderabad-based real estate participation and hospitality startup Fracspace currently operates across Hyderabad, Munnar, Goa, Varanasi, Kabini, and Bengaluru (launching soon) in India, while also maintaining an international footprint in Bali (Indonesia), Bangkok (Thailand), Miami (USA), and Colombo (Sri Lanka).
“Through this growing network, we have served over 2,500 customers, positioning ourselves at the intersection of real estate, hospitality, and managed experiences,” said the founder of Fracspace. Building on this operational base, the company is now gearing up for the soft launch of Altaira—Above the Clouds, which it positions as its most ambitious and strategically important project so far.
Set atop a hilltop location in Sri Lanka, Altaira takes shape as a destination-led ecosystem that brings together premium residences, hospitality assets, and lifestyle-oriented spaces under a single, professionally managed vision. Importantly, Altaira moves beyond conventional real estate concepts and does not focus merely on square footage.
“It solves things people rarely admit. The exhaustion of always being ‘on.’ The fear of growing older in places that don’t respect ageing. The guilt of not being present with family. The craving for silence without isolation,” added founder of Fracspace, Unnath Reddy. Altaira feels appealing because it does not compete with everyday life; instead, it actively supports it.
Altaira does not target individuals chasing a better life. Rather, it speaks to those who have already built one and are quietly questioning why it still feels overwhelming. In the same vein, Altaira does not attempt to change people; instead, it offers the space for individuals to finally feel like themselves again.
Unlike traditional real estate developments that depend largely on one-time sales, Altaira operates as a long-term value platform. Consequently, the project aims to generate sustained income through hospitality operations, curated experiences, and continuous asset management.
Moreover, the development reflects Fracspace’s broader philosophy of building real estate as an operating ecosystem rather than a static asset. The project will feature amenities such as an infinity pool, a 24/7 world-cuisine restaurant, a comprehensive spa and wellness centre, cloudpaths, waterfalls and streams, a helipad, 270-degree panoramic views of hills and valleys, natural pools and plunge pools, and a dedicated sundowner deck. Commenting on the scale of the project, the founder of Fracspace said, “With Altaira, we are projecting investment inflows of approximately ₹120 crore, marking a major step in the startup’s global expansion strategy.”
Looking ahead, the development is expected to contribute meaningfully to future revenues through a blend of participation-led investments, hospitality-driven cash flows, and long-term management income as the destination matures. Meanwhile, the Altaira Soft Launch, scheduled for 14 February 2026, is being positioned as a curated, invite-only unveiling for early participants, global investors, and long-term stakeholders. Registrations are currently open, with the company shortlisting profiles to ensure alignment with the project’s long-term vision and scale.
For the Hyderabad-based startup Fracspace, Altaira represents far more than an entry into a new geography. Instead, it marks a clear transition into large-format, cross-border destination development, supported by a proven operating track record, an expanding investor base, and a well-defined growth roadmap.
Altaira is shaping up as a defining milestone—not only in Fracspace’s global journey but also in the way Indian-born real estate platforms are establishing their presence on the international stage.
