CapitaLand Investment Limited (CLI) has commenced operations for Phase I of the newly redeveloped International Tech Park Hyderabad (ITPH). Strategically located in Madhapur, the heart of Hyderabad’s IT corridor, the business park has received 100% lease commitment from leading global corporations for its Block A office building.
CapitaLand India Trust (CLINT) will invest in the complete redevelopment of ITPH, which is expected to be done in phases over 7–10 years. After completion, ITPH will provide 4.9 million square feet (sq ft) of Grade A+ office space to house more than 50,000 IT/IT Enabled Services (ITES) professionals. At the launch of ITPH Block A today, a groundbreaking ceremony was also held for the development of a 40-megawatts (MW) data centre in ITPH.
The launch event was graced by Shri K.T. Rama Rao, Hon’ble Minister for Municipal Administration & Urban Development, Industry & Commerce, Information Technology, Electronics & Communication, Government of Telangana and Shri Amarnath Reddy Atmakuri, Chief Relations Officer, IT E&C Department, Government of Telangana. Senior management from CLI who were present at the event included Mr Manohar Khiatani, Senior Executive Director, CLI and Chairman of CLINT and Mr Sanjeev Dasgupta, CEO, CLI India and CEO of CLINT.
Speaking at the event, the Hon’ble Minister for IT, E&C, Industries & Commerce, MA & UD, Shri K.T. Rama Rao, said: “CLI’s commitment to developing world-class business parks and data centres in Hyderabad is a testament to the exponential growth of the city’s IT sector. With Hyderabad becoming a preferred destination for leading global corporations, we are dedicated to providing the infrastructure and support necessary for these companies to grow and succeed. We will continue to work with leading companies like CLI to shape the future of Hyderabad’s business landscape by creating an ecosystem that nurtures innovation and collaboration.”
Mr Sanjeev Dasgupta, CEO, CLI India and CEO, CLINT said: “Hyderabad is among the fastest growing markets for CLI in India where we have close to 30 years of experience. We currently have 12 business parks across six cities in India, three of which are in Hyderabad. Our business parks in India enjoy a strong average occupancy rate of close to 90%, housing over 150,000 professionals from both multinational and local companies. Besides our data centre in ITPH, we have two data centres under development in Navi Mumbai and Chennai, and one being planned for at our International Tech Park Bangalore. Our investment in Hyderabad demonstrates our commitment to harness the potential of the city’s IT/ITES infrastructure and be a strong partner both for the government and for corporations, especially in the business parks and data centre sectors.”