Capitaland To Invest Rs 6,200 Crore In Realty Projects In Telangana

BY Realty+

CapitaLand India Trust Management Pte. Ltd., trustee-manager of CapitaLand India Trust (CLINT), has signed a Memorandum of Understanding (MoU) with the Telangana Government to develop a data centre at CLINT’s International Tech Park Hyderabad (ITPH), located at Madhapur. 

CLINT will leverage CapitaLand Group’s data centre expertise to develop the ITPH data centre which will have a built-up area of approximately 250,000 sq ft and 36 megawatts (MW) of power capacity. It will incorporate the latest technologies in cooling and security, as well as a dedicated gas insulated substation within the site. Its technologically advanced specifications will allow it to serve hyperscale players and large enterprises in the region. The project is estimated to entail an investment of approximately INR1,200 Crores (S$210 million) to be deployed in the next 3 to 5 years.

The Hon’ble Minister for IT, Industries and MA&UD, Shri K.T. Rama Rao  said: “I am very happy to see CapitaLand India Trust invest in Telangana. Today, Hyderabad is one of the fastest growing data centre markets in India and the investment adds to the pace we look to keep up. I hope to continue this relationship and hope the state can work together with CapitaLand to get not only data centre investments, but also other IT and IT Enabled Services infrastructure projects to fuel the ever-growing IT industry in the state.”

Sanjeev Dasgupta, Chief Executive Officer, CLINT said: “This is CLINT’s second data centre development project in India, following our entry into India’s data centre market by acquisition of a greenfield data centre development site in Navi Mumbai in 2021. CapitaLand Group has been operating in the State of Telangana for almost two decades. CLINT owns and manages three business parks in Hyderabad – ITPH, CyberPearl and aVance – aggregating to 3.8 million sq ft and catering to close to 70 global organisations and over 30,000 professionals. Located within Hyderabad, Telangana is renowned for its ease of doing business, high quality infrastructure and investment-oriented initiatives. CLINT will continue to strengthen our portfolio with high quality new economy assets, with another two data centre projects planned in two key markets to diversify the portfolio and create value for our shareholders.” 

Surajit Chatterjee, Managing Director, Data Centre, India, CapitaLand Investment said: “Over the last few years, CapitaLand Group has rapidly built strong competencies in data centre design, development and operations, with 25 data centres across Asia and Europe that will offer more than 500 MW of power on a completed basis. We are excited to embark on CapitaLand India Trust’s second data centre development as we expand our data centre business globally.  Our latest Hyderabad project will incorporate state-of-the-art technology and the project reinforces our commitment to becoming a strategic data centre operator in India.”

CapitaLand India Trust (CLINT), formerly known as Ascendas India Trust (a-iTrust), was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as the first Indian property trust in Asia. Its principal objective is to own income-producing real estate used primarily as business space in India. CLINT may also develop and acquire land or uncompleted developments primarily to be used as business space, with the objective of holding the properties upon completion. As at 30 June 2022, CLINT’s assets under management stand at S$2.5 billion.

CLINT’s portfolio includes eight world-class IT business parks, one logistics park, one industrial facility and one data centre development in India, with total completed floor area of 15.5 million square feet spread across Bangalore, Chennai, Hyderabad, Pune and Mumbai. CLINT is focused on capitalising on the fast-growing IT industry and logistics/industrial asset classes in India, as well as proactively diversifying into other new economy asset class such as data centres. CLINT is structured as a business trust, offering stable income distributions similar to a real estate investment trust. CLINT focuses on enhancing shareholder value by actively managing existing properties, developing vacant land in its portfolio, and acquiring new properties.

Tags : CapitaLand India Trust Management Pte. Ltd CapitaLand India Trust MoU Telangana Government Shri K.T. Rama Rao Hon’ble Minister for IT Industries and MA&UD Sanjeev Dasgupta Chief Executive Officer CLINT Surajit Chatterjee Managing Director Data Centre India CapitaLand Investment