Singapore’s CapitaLand begins construction of its 3rd IT park in Chennai, India

29, Jul. 2020

Located along Chennai’s IT corridor, ITPC, Radial Road (artist’s impression) will be developed in phases and it has been pre-certified with a Platinum rating by the Indian Green Building Council (Photo courtesy of CapitaLand)
Located along Chennai’s IT corridor, ITPC, Radial Road (artist’s impression) will be developed in phases and it has been pre-certified with a Platinum rating by the Indian Green Building Council (Photo courtesy of CapitaLand)

SINGAPORE, NNA – The Singapore-government backed real estate firm CapitaLand Ltd. has started the construction of its third information technology park in the southern Indian city of Chennai.

The company said Monday that two grade A office buildings with a total floor space of over 240,000 square meters, the first phase of the International Tech Park Chennai (ITPC), Radial Road, will become operational in the fourth quarter of 2022 in the capital of Tamil Nadu state.

The second phase of office development is scheduled to be operational in the second quarter of 2024. Phased development could provide a potential grade office space of nearly 430,000 sq. meters in the 94,000 sq.-meter IT park, it said in a statement.

CapitaLand’s first two IT parks in the city – ITPC at Taramani and CyberVale – are fully occupied, the statement said.

The Singapore realtor has developed and operated an industrial park, two logistics and warehouse facilities, and two lodging properties in Chennai in the past 15 years.

In India, the company has a presence with a portfolio of over 20 business and IT parks, and industrial, lodging and logistics properties across seven cities – Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Mumbai and Pune – according to the statement.