CapitaLand Investment Limited (CLI) has made history in India’s corporate landscape by launching the country’s pioneering net-zero business park in Chennai. The inauguration of the International Tech Park Chennai, Radial Road (ITPC-Radial Road), signifies a monumental leap towards sustainable and eco-friendly infrastructure.
Net-Zero Business Parks
Pioneering Certification and Eco-Friendly Attributes
ITPC-Radial Road stands as a groundbreaking achievement as the first net-zero business park in India certified by the Indian Green Building Council (IGBC) as net zero. This distinction recognizes its embodiment of energy efficiency, water conservation, and waste management, setting new benchmarks in sustainability within the nation’s business landscape.
Development and Progress Phases
Covering an expansive 5 million square feet, the business park’s vision is to accommodate over 50,000 IT professionals across four Grade A office blocks. Phase 1, occupying 1.3 million square feet, has already garnered substantial interest, securing commitments from notable companies such as Vestas Wind Technology India for 250,000 square feet of office space.
Investment Commitment and Growth Prospects
CapitaLand’s Financial Pledge
Sanjeev Dasgupta, CEO of CLI India, highlights the company’s steadfast commitment, having already invested S$750-S$800 million in Chennai. The future investment of over S$500 million within the next five years, specifically targeting IT parks, logistics, and data centers, underlines CapitaLand’s dedication to meeting India’s evolving infrastructure demands.
Strategic Collaborations for Sustainable Development
CapitaLand’s strategic partnership with Mitsubishi Estate Co. Ltd has played a pivotal role in driving these initiatives forward. The CapitaLand India Growth Fund 2 (CIGF2), aiming for a fund size of S$525 million, intends to develop Grade A net-zero business parks across key Indian cities, fortifying the foundation for sustainable development in the country.
Government Collaboration and Long-Term Vision
Governmental Support and Development Vision
Chief Minister M.K. Stalin’s endorsement of the tech net-zero park as a catalyst for the state’s IT sector growth solidifies the government’s commitment to positioning Tamil Nadu as a primary IT hub. The emphasis on fostering startups and establishing tech hubs across tier-2 and tier-3 cities resonates with the state’s vision for comprehensive technological growth.
Milestones for Economic Transformation
Stalin’s goal of reaching a $1 trillion economy by 2030 received a significant boost through infrastructural advancements like the ITPC-Radial Road. The establishment of high-quality office spaces aligns with the state’s objective of attracting global organizations and accommodating their rapidly growing needs.
Innovating for Well-being and Efficiency
Holistic Sustainability Measures
The ITPC-Radial Road goes beyond environmental sustainability by securing pre-certification from IGBC as a Platinum project and earning a WELL pre-certification, underscoring its commitment to occupants’ health and well-being. Advanced systems like the intelligent Building Management System and digital twin technology promise ongoing enhancements in energy efficiency and real-time property performance monitoring.
Continuous Growth and Economic Impacts
CLI’s Expanding Portfolio in Chennai
CLI’s journey in Chennai, beginning with the establishment of the ITPC-Taramani in 2005, now spans a diversified portfolio encompassing IT parks, industrial parks, logistics, and lodging assets. The recent plan to establish a data center in Ambattur, Chennai, showcases their enduring commitment to the city’s growth and development.
Future Phases and Economic Expansion
As phase 2 of ITPC-Radial Road gears up for operations by 2024, it signifies an ongoing economic upsurge in Chennai. Planned ventures like the fourth Wonderla theme park in Thiruporur taluk and Ericsson’s 6G R&D center are clear indications of the region’s dynamic growth trajectory.
Ensuring a Sustainable Corporate Landscape
Securing India’s Sustainable Future
CapitaLand Investment’s pioneering step in introducing the net-zero business park sets a new standard for sustainable business infrastructure in India. Their vision, coupled with governmental support, promises a robust, eco-friendly future for Chennai’s burgeoning IT landscape, ensuring a model for sustainable corporate progress.
Staying Ahead in the Sustainability Race
Adapting to Ever-Changing Needs
CapitaLand’s dedication to sustainability through the ITPC-Radial Road acts as a testament to its commitment to adapt, innovate, and meet the evolving needs of a rapidly transforming corporate and environmental landscape, setting an example for the future.
