CapitaLand Investment Limited (CLI) has commenced operations for Phase I of the newly redeveloped International Tech Park at the IT hub of Madhapur here. It announced that it has got lease commitments from global corporations for the entire space.
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 the completion of all phases, it would have 4.9 million square feet (sq ft) of office space, which could house over 50,000 IT and IT-enabled professionals.
Telangana IT and Industries Minister K T Rama Rao formally inaugurated the new facility and took part in the groundbreaking for the construction of the 40-MW data centre on the ITPH campus.
“We currently have 12 business parks across six cities in India, three of which are in Hyderabad. Our business parks in India have an average occupancy rate of about 90 per cent, housing over 1.50 lakh professionals,” Sanjeev Dasgupta, CEO of CLI India and CEO, CLINT, said in a statement on Wednesday.
“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 Bengaluru,” he said.
As part of Phase 1 operations, the 1.4 million sq ft Block A office building has received lease commitment from global corporations including Bristol Myers Squibb, Ernst & Young, Tata Consultancy Services, and Warner Bros. Discovery.