IndiaLand plans a 1,500-crore investment in Indian property in 3 years

IndiaLand, the Dubai-based arm of the Americorp Group, under the leadership of Salai Kumaran, its Chief Operating Officer, intends to invest over INR 1,500 crore into India's real estate sector over the next three years, as disclosed to Moneycontrol. Additionally, the company plans to elevate its current asset valuation in India to INR 7,000 crore from the existing INR 3,000 crore within a five-year horizon. Kumaran explained that this aspiration involves a planned expansion of office spaces and industrial estates across important cities such as Chennai, Pune, and Coimbatore.
Notably, the company is actively pursuing land acquisitions in Bengaluru to develop Grade A standalone office complexes. At present, IndiaLand has spearheaded the development of more than 6 million sq. ft. of office parks across the aforementioned cities, complemented by industrial parks and a retail mall. In the upcoming 3 to 5 years, the company foresees expanding its portfolio by incorporating 2.2 million sq. ft. of Grade A office space in Hinjawadi, Pune. Moreover, the company endeavours to expand its operational office footprint by 0.50 million sq. ft. in the same locale while also adding 0.8 million sq. ft. in Coimbatore.
Kumaran emphasised that their real estate investments currently focus mainly on Chennai and Coimbatore. However, they plan to expand into Maharashtra and Tamil Nadu in the near future. Regarding Bengaluru, he explained that the company intends to acquire land for standalone office complexes in areas like Whitefield, Electronic City, and near Mysuru Road. IndiaLand is strategically positioned for significant expansions in the industrial sectors of Pune and Chennai.
These expansions involve doubling their leased industrial space in Pune over the next five years. Additionally, they plan to begin the initial phase of an industrial and logistics park near Chennai, covering 150 acres out of a total area of 500 acres. In Pune, IndiaLand aims to expand its existing 20-acre industrial and logistics park. Recently, the company signed a memorandum of understanding with the Tamil Nadu government, committing to invest INR 600 crore in constructing office parks and industrial zones.
Kumaran highlighted the revival of Tier II cities, pointing out the growing need for office spaces. He specifically mentioned Coimbatore, where the lack of Grade A office spaces shows a significant gap between demand and supply. Additionally, he noted that cities like Trichy and Madurai are gaining traction due to rising rents in Tier I cities, prompting companies to explore Tier II cities to manage their real estate costs more effectively.
In conclusion, IndiaLand's strategic positioning and ambitious plans underscore its readiness to expand significantly in Pune, Chennai, and Bengaluru's industrial and office sectors, marking a notable advancement in its real estate ventures.

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IndiaLand plans a 1,500-crore investment in Indian property in 3 years

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