Business

Olympia to invest Rs 750 cr in 1.1 mn sq ft new IT park in Guindy

Olympia Cyberspace Pvt Ltd, a unit of the city-based Olympia group is coming up with a 1.1 million sq ft greenfield IT park jointly with US private equity fund Apollo Global. With $270 billion of Assets Under Management, Apollo Global is among the world’s largest alternate investment platforms.

migrator

Chennai

The campus will be constructed within three years and situated in the heart of the city. The project entails an investment of Rs 750 cr.


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 cr 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 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. Further, we will partner with Apollo Global, which believes in our vision of creating high quality office asset in Chennai.”


Olympia Group is the pioneer to build IT parks in the city. 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 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 exports from Chennai and play its role in economic development.

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