– CapitaLand announces Rs 450 crore investment in a 1 million sq ft IT park in Hyderabad. – The project targets the rising demand from Global Capability Centers and blue-chip firms. – Telangana Chief Minister praises the investment as a boost for Hyderabad’s business landscape. – CapitaLand operates three major business parks in the region and has more developments planned.
CapitaLand Group, headquartered in Singapore, has announced a significant investment of Rs 450 crore aimed at developing a state-of-the-art IT park in Hyderabad. This expansive project will span 1 million square feet, responding to the growing demand for premium facilities from Global Capability Centers and established corporations. The announcement followed a high-level meeting in Singapore that included notable attendees such as Telangana Chief Minister A Revanth Reddy and IT Minister D Sridhar Babu.
Strengthening Hyderabad’s Business Landscape
Chief Minister Revanth Reddy expressed his appreciation for the investment, emphasizing its role in fortifying Hyderabad’s stature as a premier business and technology hub. This initiative is part of CapitaLand’s extensive development agenda in the city and aims to cater effectively to the demands of the evolving market.
CapitaLand’s Ongoing Projects
Gauri Shankar Nagabhushanam, CEO & ED of CapitaLand India Trust Management Pte. Ltd, expressed enthusiasm about expanding operations in Hyderabad, highlighting the city’s vibrant ecosystem that supports sustainable infrastructure development. In addition to the new IT park, CapitaLand operates three significant business parks in Hyderabad: International Tech Park Hyderabad (ITPH), aVance Hyderabad, and CyberPearl.
Future Developments
Furthermore, CapitaLand is on track to operationalize a previously announced 25 MW IT load data center in Hyderabad by mid-2025. The company also anticipates commencing the second phase of redevelopment at ITPH this year, with an expected completion date in 2028.
This investment by CapitaLand illustrates a commitment to advancing Hyderabad’s infrastructure and further establishing it as a central hub for technology and business operations.
In conclusion, CapitaLand’s investment in a new IT park represents a significant advancement for Hyderabad’s business infrastructure, reinforcing its status as a technology center. The commitment from CapitaLand showcases their dedication to meeting the needs of expanding global businesses while contributing to the local economy and employment opportunities.
Original Source: www.business-standard.com
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