CapitaLand Investment Limited (CLI) has commenced operations for phase 1 of International Tech Park Chennai, Radial Road. It further plans to invest over S$ 500 million in Chennai over the next five years across multiple asset classes, with a special focus on information technology (IT) parks, logistics, and data centres.
According to the company, it is the first business park in India to be certified by the Indian Green Building Council (IGBC) as net zero for energy efficiency, water conservation and waste management. The business park spans across 5 million sq ft and would offer four Grade A office blocks with the capacity to house over 50,000 IT service professionals. In phase 1, the 1.3 million sq ft office block has already signed a lease commitment with Vestas Wind Technology India for about 250,000 sq. ft of office space.
Furthermore, the development of phase 2 is currently underway and set to begin operations by second quarter of 2024.