Singapore-based CapitaLand Group, a global real estate investment and development company, has announced a ₹450 crore investment to develop a state-of-the-art, 1-million-square-foot IT park in Hyderabad, Telangana.

According to an official release, the announcement was made following a high-level meeting in Singapore, attended by the Chief Minister of Telangana, A. Revanth Reddy, his team, and senior executives of CapitaLand

This new project will cater to the increasing demand from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities, the statement said.

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In India, CapitaLand already operates three prominent business parks in Hyderabad: International Tech Park Hyderabad (ITPH), aVance Hyderabad, and CyberPearl.

CapitaLand’s earlier announced 25 MW IT load data centre in Hyderabad is on track to become operational by mid-2025, it said.

The second phase of redevelopment at International Tech Park Hyderabad (ITPH) is set to commence this year, with completion anticipated by 2028.