CapitaLand Focuses on Redevelopments and Forward Purchases of Business Parks to Propel India's Growth.

Singapore-based Capitaland is intensifying its strategic focus on India, adopting an aggressive approach to large-scale redevelopments, forward purchases of business parks, and the development of data centers to accelerate growth in the region. The company is significantly expanding its International Tech Park Hyderabad (ITPH) from 1.7 million square feet to 5.5 million square feet and adding an additional 2 million square feet at International Tech Park Bengaluru (ITPB). This shift marks a move away from greenfield expansion towards asset renewal aimed at generating higher yields.

In addition to office spaces, Capitaland is strengthening its digital infrastructure portfolio by establishing a hyperscale data center in Mumbai, with plans for three more data centers in Bengaluru, Hyderabad, and Chennai. Its India business parks portfolio, currently spanning 26 million square feet with a 92 percent occupancy rate, is targeted to grow to 40 million square feet over the next three to five years, according to Sumit Gera, CEO of India Business Parks at CapitaLand Investment, in an exclusive interview with businessline.