IndiaLand, a leading global real estate firm headquartered in Madrid, Spain, has signed a memorandum of understanding (MOU) with the Tamil Nadu government to further develop the IndiaLand Tech Park in Coimbatore.
The company will launch Tower D in the existing park, adding 5 lakh square feet of leasable area. With this, the total capacity of the tech park will elevate to an impressive 18 lakh sqft. According to the pact signed during the Chennai Global Investor Summit, the project will be developed at an expenditure of Rs 500 crore.
This strategic development is a major step towards enhancing the city’s IT Special Economic Zone (SEZ) spaces. Moreover, the anticipation around the introduction of the upcoming Tower E, adding 7 lakh sqft, further solidifies IndiaLand Tech Park’s role in shaping the IT infrastructure of the region.
The pivotal collaboration is a testament to IndiaLand’s dedication to fostering innovation and sustainability in the key Indian city of Coimbatore, the company said in a statement.
Harish Fabiani, Chairman of IndiaLand Group, commented, “Our Tech Park, including developments like D Tower, is committed to achieving LEED Certification Gold standards and ISO 14001. This signifies our commitment to combining aesthetic architectural design with environmental stewardship. The upcoming launch of D Tower is a symbol of our dedication to usher in a new era of workspace solutions that are not only ecologically responsible but also technologically advanced.”
According to IndiaLand CEO Salai Kumaran, this partnership not only strengthens Coimbatore’s position in the IT sector but also sets a precedent for future urban development in India.
IndiaLand, a part of the Americorp Group, has developed 7.5 million square feet of space comprising IT park/ IT SEZ/ industrial park/ commercial and other real estate in major Indian cities such as Chennai, Coimbatore, Pune, and Mumbai.
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