IndiaLand to Invest Rs 1,500 Crore in Indian Real Estate Over Next 3 Years
IndiaLand, the local division of the Americorp Group based in Dubai, is poised to inject upwards of Rs 1,500 crore into the Indian real estate sector over the next three years, according to its group chief operating officer, Salai Kumaran. This strategic move comes as part of the company's ambitious plans to expand its foothold and bolster its asset value in India.
Investment Strategy
The company aims to elevate its asset value in India from the current Rs 3,000 crore to Rs 7,000 crore within the next five years. One of its major initiatives includes the commencement of Phase 1 of an industrial and logistics park near Chennai, covering approximately 150 acres out of a total of 500 acres. IndiaLand's investment strategy focuses on key cities like Chennai, Pune, Coimbatore, and Bengaluru.
Expansion Plans
IndiaLand plans to strategically expand its office space and industrial estate portfolio across these cities. It is actively seeking to acquire land in Bengaluru to develop Grade A standalone office spaces. Presently, the company has already developed over 6 million sq ft of office parks across Chennai, Pune, and Coimbatore, along with industrial parks and malls. Over the next 3-5 years, IndiaLand aims to augment its grade A office space in Hinjawadi, Pune, by 2.2 million sq ft, in addition to expanding its operational office space in Coimbatore and Pune.
Focus on Bengaluru
Bengaluru is a key focus area for IndiaLand's expansion plans. The company aims to acquire land for standalone office spaces in peripheral areas such as Whitefield, Electronic City, and Mysuru Road. This strategic move is driven by congestion, water scarcity, and soaring rents in central parts and prime areas of Bengaluru.
Industrial Sector Expansion
IndiaLand is eyeing substantial expansions in Pune and Chennai for its industrial space portfolio. It plans to double its leased industrial space in Pune and commence work on the first phase of an industrial and logistics park near Chennai spanning 150 acres. The company recently signed a memorandum of understanding with the Tamil Nadu government, pledging Rs 600 crore for constructing office parks and industrial spaces.
Tier II Cities Focus
Tier II cities are also under IndiaLand's radar, with Coimbatore, Trichy, and Madurai emerging as promising destinations due to the burgeoning demand for Grade A office spaces amidst skyrocketing rentals in Tier I cities.
IndiaLand's strategic investments and expansion plans underscore its commitment to the Indian real estate sector. With a focus on key cities, industrial sector expansion, and a keen eye on emerging Tier II cities, IndiaLand is poised to play a significant role in shaping the future landscape of the Indian real estate market.
