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

CapitaLand Group, a existent property concern and improvement institution headquartered successful Singapore, has announced a Rs 450 crore concern to make a state-of-the-art 1 cardinal quadrate ft IT parkland successful Hyderabad.

The announcement was made pursuing a high-level gathering successful Singapore, attended by Telangana Chief Minister A Revanth Reddy, IT Minister D Sridhar Babu, authorities officials and elder CapitaLand executives, including CapitaLand India Trust Management Pte. Ltd CEO & ED Gauri Shankar Nagabhushanam, according to an authoritative merchandise connected Sunday.

Chief Minister Revanth Reddy welcomed the concern determination and described it arsenic a milestone successful reinforcing Hyderabad's presumption arsenic a starring concern and exertion hub.

The upcoming task is portion of CapitaLand's broader improvement pipeline successful Hyderabad. This caller task volition cater to the expanding request from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities, it said.

Gauri Shankar Nagabhushanam said: "We are excited to grow our footprint successful Hyderabad, leveraging its vibrant ecosystem to present sustainable and world-class infrastructure." CapitaLand operates 3 salient concern parks successful Hyderabad-- International Tech Park Hyderabad (ITPH), aVance Hyderabad, and CyberPearl.

CapitaLand's earlier announced 25 MW IT load information centre successful Hyderabad is connected way to go operational by mid-2025, it said.

The 2nd signifier of redevelopment astatine International Tech Park Hyderabad (ITPH) is acceptable to commence this year, with completion anticipated by 2028, the merchandise added.