Hyderabad: CapitaLand Investment Limited (CLI) commenced its operations for Phase I of the newly redeveloped International Tech Park Hyderabad (ITPH). Strategically located in Madhapur, the business park has received 100 percent lease commitment from leading global corporations for its Block A office building.
Speaking at the groundbreaking ceremony for development of a 40-megawatt (MW) data centre in ITPH as well, IT and Industries Minister KT Rama Rao, said CLI’s commitment to developing world-class business parks and data centres in Hyderabad was 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,” he said.
Pointing out that builders from Maharashtra, who were recently in the city, had gone around Hyderabad and said that Telangana was building India’s own version of Singapore here, the Minister said Singapore and Japan were countries that the State looked up to for inspiration.
“We have learned a lot and imbibed the best elements,” he said, adding that Telangana was now one of the most important life sciences hub in the world, with 33 percent of human vaccines being manufactured here. Nine billion doses every year were being made here, which would increase to 14 billion next year.
The State also had 40 percent of world’s pharmaceuticals made here, with 214 US FDA approved manufacturing facilities, he said, inviting CapitaLand to invest in the life sciences sector here as well. Pitching for investments in industrial warehouses as well, Rama Rao said what made Hyderabad interesting was not just physical infrastructure, but the abundance of talent as well.
Companies were not looking just at the cost perspective but also at the availability of talented manpower, which made Hyderabad, Telangana and India attractive for many, he said, calling upon the CapitaLand to make Hyderabad its hub in India, for which the State would extend full support.
“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 percent, 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 is 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,” Sanjeev Dasgupta, CEO, CLI India and CEO, CLINT said.
As part of its 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, VXI Global, US Technology, Warner Bros. Discovery, Cloud4C Services and ANSR Global Corporation.
The data centre at ITPH will have a built-up area of 0.3 million sq ft. Its technologically advanced specifications will allow it to serve international hyperscalers and large enterprises.
CLI had recently launched CapitaLand India Growth Fund 2, a business park development fund in India, and this is the second business park development fund since the S$300 million Ascendas India Growth Programme, which was closed and fully committed in 2015. In Hyderabad, CLINT has another two business parks – aVance Hyderabad and CyberPearl.
Gauri Shankar Nagabhushanam, CEO, India Business Parks, CLI, Amarnath Reddy Atmakuri, Chief Relations Officer, IT E&C Department, Telangana and others were present.