Chennai, 27 July 2020 – CapitaLand, one of Asia’s largest diversified real estate groups, today unveiled International Tech Park Chennai (ITPC), Radial Road in a virtual ceremony graced by Shri Edappadi Palaniswami, Honourable Chief Minister of Tamil Nadu. This marks the construction commencement for the first phase of the 23.3-acre IT park. ITPC, Radial Road has 4.6 million sq ft of development potential for premium Grade A office space.
Mr Vinamra Srivastava, CEO, Business Parks, CapitaLand India, said: “Chennai is one of our key markets for growth. It is the most diversified market for us in India and we have invested in IT parks, industrial townships, warehousing and lodging in the city. With both operational CapitaLand IT parks in Chennai – ITPC at Taramani and CyberVale fully occupied, our ITPC, Radial Road will offer more options for IT and IT-enabled services (ITeS) companies to expand their businesses in the city. We will continue to balance our growth across key markets in India as we look to increase our assets under management in the country. To achieve this, we are investing in developing a strong pipeline of projects and working with potential capital partners to grow our fund management business in India in the next few years.”
Located along Chennai’s IT corridor, ITPC, Radial Road will be developed in phases and it has been pre-certified with a Platinum rating by the Indian Green Building Council. Phase 1 will comprise two buildings offering 2.6 million sq ft of premium Grade A office space for IT and ITeS companies. The first and second blocks will be operational by Q4 2022 and Q2 2024 respectively. When fully developed, it will have amenities such as restaurants, food courts, fitness centre, clinic, childcare centre and event spaces.
The project is accessible by several main roads and is well-connected to Chennai International Airport. It is also located close to residential properties, educational institutions and hospitals. The park is conceptualised to have sustainable and resilient design solutions with focus on safety, health, wellness, and technology integration such as contactless features and app- based solutions among others.
Dr C Velan, City Head, Chennai Operations, CapitaLand India, said: “With over 15 years of experience in Chennai, we are bringing state-of-the-art office space at ITPC, Radial Road, and best-in-class asset management services to our clients. This park is anotherdemonstration of CapitaLand’s commitment to sustainability.
Designed with green features to achieve water and energy efficiencies such as the 75% naturally lit office spaces as well as luscious landscape complementing Chennai’s weather and ecosystem, it will be a draw as tenants are increasingly placing sustainability as a top priority.”
ITPC, Radial Road is CapitaLand India’s third IT park and eighth property in Chennai. The other properties are ITPC at Taramani, which is a joint venture with Tamil Nadu Industrial Development Corporation; CyberVale, an IT Special Economic Zone in Mahindra World City; OneHub Chennai, a 1,250-acre integrated industrial township on Old Mahabalipuram Road (OMR); two logistics and warehouse facilities at Oragadam and Periyapalayam; and two lodging properties, Somerset Greenways Chennai and Citadines OMR Chennai.
About CapitaLand India (www.capitaland.com)
CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth S$131.9 billion as at 31 December 2019. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 200 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA.
CapitaLand has one of the largest real estate investment management businesses globally. It manages seven listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. Since it pioneered REITs in Singapore with the listing of CapitaLand Mall Trust in 2002, CapitaLand’s REITs and business trusts have expanded to include Ascendas Real Estate Investment Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust and CapitaLand Malaysia Mall Trust.
In India, CapitaLand has a strong presence with a portfolio of over 20 business and IT parks, industrial, lodging and logistics properties across seven cities – Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Mumbai and Pune.
The Group is a key contributor to India’s IT industry development, having pioneered the renownedInternationalTechParkBangalorein1994.CapitaLand has deep expertise in India across the full real estate value chain – from owning, developing and managing properties to fund management through Ascendas India Trust and private funds.
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