CapitaLand Investment plans business park in Tamil Nadu

CapitaLand Investment Limited (CLI) has begun operations for Phase 1 of International Tech Park Chennai, Radial Road (ITPC-Radial Road), the first business park in India to be certified as Net Zero for energy efficiency, water conservation, and waste management by the Indian Green Building Council (IGBC).  

The 5 million square feet (sq ft) business park, located along Chennai's newest and fastest expanding IT corridor, will offer four Grade A office complexes with the capacity to house over 50,000 IT service professionals when completed.  The 1.3 million sq ft office complex in Phase 1 has already inked a lease commitment with Vestas Wind Technology India for about 250,000 sq ft of office space and is still attracting active tenant interest.  Phase 2 development is presently underway, with operations anticipated to commence in the second quarter of 2024.

The Honourable Chief Minister of Tamil Nadu, Thiru. M.K. Stalin, Dr. T.R.B. Rajaa, Minister for Industries, Investment Promotion & Commerce, Government of Tamil Nadu, Mr. T.M. Anbarsan, Minister for Micro, Small and Medium Enterprises (MSME), Government of Tamil Nadu, senior leaders from CLI including Mr Miguel Ko, Chairman, CLI and Mr Sanjeev Dasgupta, CEO, CLI India and Mr Masan

CapitaLand, formerly Ascendas, has been Tamil Nadu's trusted partner for two decades, powering our knowledge economy and providing the infrastructure for several IT and ITES companies, stated Dr. T.R.B. Rajaa, Minister for Industries, Investment Promotion & Commerce, Government of Tamil Nadu.  We congratulate them on their latest project, International Tech Park, Radial Road, in Chennai. We are overjoyed that our partnership with CapitaLand is still going strong, demonstrating their belief in Tamil Nadu as an internationally renowned IT destination.

We have attracted some of the largest global organizations to our state for their offices, global capability centres, and R&D centres in the last two years, thanks to the leadership of Honourable Chief Minister of Tamil Nadu Thiru. M.K. Stalin, and projects like these are critical to the state meeting our investors' rapidly growing high-quality office space demands.

CLI has observed Tamil Nadu's development over the last 18 years since we entered Chennai, and the city is currently among the fastest-growing markets inside India for CLI, where we have the most diverse portfolio of assets, according to Mr Sanjeev Dasgupta, CEO, CLI India.  This reflects the state's business-friendly environment and highly skilled workforce.

News by Rahul Yelligetti