CapitaLand announces Rs 450 crore investment for new IT park in Hyderabad

The new project will cater to the increasing demand from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities

By Newsmeter Network  Published on  19 Jan 2025 2:14 PM IST
CapitaLand announces Rs 450 crore investment for new IT park in Hyderabad

CapitaLand announces Rs 450 crore investment for new IT park in Hyderabad

Singapore: CapitaLand Group, a leading global real estate investment and development company headquartered and listed in Singapore, has announced a Rs 450 crore investment to develop a state-of-the-art one million square foot IT park in Hyderabad, Telangana.

The announcement was made following a high-level meeting in Singapore, attended by chief minister A Revanth Reddy, IT minister Duddilla Sridhar Babu, special chief secretary Jayesh Ranjan and others.

Strengthening Hyderabadā€™s growth as a business hub

The upcoming project is part of CapitaLandā€™s broader development pipeline in Hyderabad, a public notice from the government said. The new project will cater to the increasing demand from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities.

Speaking on the announcement, Gauri Shankar Nagabhushanam, CEO & ED, CapitaLand India Trust Management, said, ā€œHyderabad has consistently demonstrated strong potential for business growth, supported by the Telangana Governmentā€™s progressive policies and dynamic leadership of CM Revanth Reddy. We are excited to expand our footprint in Hyderabad, leveraging its vibrant ecosystem to deliver sustainable and world-class infrastructure.ā€

CM Revanth Reddy welcomed the investment decision and described it as a milestone in reinforcing Hyderabadā€™s position as a leading business and technology hub.

About CapitaLand Group

CapitaLand Group is a leading global real estate investment and development company headquartered in Singapore. Its diversified portfolio spans retail, office, lodging, logistics, data centres and more.

In India, CapitaLand operates three prominent business parks in Hyderabad: International Tech Park Hyderabad (ITPH), Vance Hyderabad and CyberPearl.

25 MW IT data centre to be ready by mid-2025

CapitaLandā€™s earlier announced 25 MW IT load data centre in Hyderabad is on track to become operational by mid-2025, underscoring Hyderabadā€™s emergence as a critical node for digital infrastructure in India. The second phase of redevelopment at International Tech Park Hyderabad (ITPH) is set to commence this year, with completion anticipated by 2028.

The meeting was also attended by Dr E Vishnu Vardhan Reddy, IFS, special secretary for Investment Promotion, B Ajith Reddy, IDES, special secretary, CMO, and senior CapitaLand executives, including Gauri Shankar Nagabhushanam, CEO & ED, CapitaLand India Trust Management and Manohar Khiatani, senior executive director, CapitaLand Investment.

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