CapitaLand Investment Ltd (CLI) has commenced operations for Phase I of the newly redeveloped International Tech Park Hyderabad (ITPH) on Wednesday. Strategically located in Madhapur, the heart of Hyderabad’s IT corridor, the business park has received 100 per cent 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 710 years. After completion, ITPH will provide 4.9 million sq ft of Grade A+ office space to house more than 50,000 IT/ ITeS professionals. At the launch of ITPH Block-A, a groundbreaking ceremony was also held for the development of a 40-MW data centre in ITPH.
The launch event was graced by KT Rama Rao, Telangana IT Minister and IT E&C Department Chief Relations Officer Amarnath Reddy Atmakuri. On the occasion, KTR 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.”
He further said, “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 the city’s business landscape by creating an ecosystem that nurtures innovation and collaboration.” Sanjeev Dasgupta, CEO, CLI India and CEO, CLINT said: “Hyderabad is among the fastest growing markets for CLI in India where we have 30 years of experience. We currently have 12 business parks across six cities in India, three of which are in Hyderabad.”
