Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore
Olympia Cyberspace, a unit of Chennai based Olympia group, is coming up with a 1.1million sq-ft greenfield IT park jointly with a US private equity fund Apollo Global. Apollo Global one of the world's largest alternate investment platform with $270 billion in assets under management is a joint venture partner of Olympia for this project. The campus will be constructed within three years and situated in the heart of the city.
Ajit Kumar Chordia, MD, Olympia Group, said, “The ongoing demand for office space in the city has prompted the development of IT park. The project will have a total investment of about Rs 750 crores and is expected to generate employment for 12,500 IT professionals directly, apart from indirect employment. This is a milestone for the group in the IT office space vertical. We are confident that this facility will attract IT/ ITeS MNCs that benefit from the state-of-the-art amenities at a strategic location. Further, as a patron of green initiatives and driving sustainability, the project will encompass green and sustainable elements.”
Olympia Group is the pioneer to build IT parks in Chennai. The Olympia Tech Park, the largest and one of the oldest information technology office locations in Chennai. Also the city’s first largest Gold rated green building by USGBC, housing Fortune 50 companies as its tenants.
Chandrakant Kankaria, director, Olympia Group, said, “We are happy to provide quality and future ready IT parks to satiate the demand for Grade A quality IT office spaces in the heart of the city. The project has an elegant and attractive design and is likely to emerge as a landmark in the city of Chennai. The project is expected to capture and incorporate the collaborative work environment which is the emerging trend and way forward globally”.
The project will also contribute to increase in software experts from Chennai and play its role in economic development.