AgenciesMUMBAI | BENGALURU: Tata Realty & Infrastructure has secured a loan worth Rs 825 crore loan from the World Bank Group member International Finance Corporation (IFC) for the strategic refinancing of Ramanujan Intellion Park in Chennai.
This financing is a part of Tata Realty's broader commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India.
The funds will further integrate state-of-art sustainable technologies and practices at this flagship asset, which boasts a total leasable area of approximately around 4.67 million sq ft of IT/ITES commercial office spaces.
“Business parks are key to greening the real estate sector…IFC's investment highlights the pivotal impact that climate-focused financing has in driving substantial environmental progress and will support Tata Realty to expand its portfolio of net zero carbon buildings,” said Imad N. Fakhoury, IFC's Regional Director for South Asia.
Located strategically along Old Mahabalipuram Road (IT Expressway) in Taramani, Chennai, the 25.27-acre Ramanujan Intellion Park encompasses both a Special Economic Zone (SEZ) processing area and a non-processing zone.
“The financing from IFC is a strategic investment in advancing our efforts to enhance the sustainability and climate resilience of Ramanujan Intellion Park,” said Sanjay Dutt, MD & CEO of Tata Realty.
This fully owned and operational IT park hosts between 40,000 to 60,000 professionals across its six buildings daily, underscoring high occupancy rate.
Additionally, the park includes the Taj Wellington Mews Hotel facility that offers 112 serviced apartments and a 1,500-seater convention center in the non-processing zone, operated by Taj Hotels, a subsidiary of Indian Hotels Company Limited (IHCL).
Tata Realty & Infrastructure has a portfolio of over 50 projects across 15 cities. It has so far developed 17.6 million sq ft of commercial projects and has 16.7 million sq ft of projects under development and planning. Ends
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The funds will further integrate state-of-art sustainable technologies and practices at this flagship asset, which boasts a total leasable area of approximately around 4.67 million sq ft of IT/ITES commercial office spaces.
“Business parks are key to greening the real estate sector…IFC's investment highlights the pivotal impact that climate-focused financing has in driving substantial environmental progress and will support Tata Realty to expand its portfolio of net zero carbon buildings,” said Imad N. Fakhoury, IFC's Regional Director for South Asia.
Located strategically along Old Mahabalipuram Road (IT Expressway) in Taramani, Chennai, the 25.27-acre Ramanujan Intellion Park encompasses both a Special Economic Zone (SEZ) processing area and a non-processing zone.
“The financing from IFC is a strategic investment in advancing our efforts to enhance the sustainability and climate resilience of Ramanujan Intellion Park,” said Sanjay Dutt, MD & CEO of Tata Realty.
This fully owned and operational IT park hosts between 40,000 to 60,000 professionals across its six buildings daily, underscoring high occupancy rate.
Additionally, the park includes the Taj Wellington Mews Hotel facility that offers 112 serviced apartments and a 1,500-seater convention center in the non-processing zone, operated by Taj Hotels, a subsidiary of Indian Hotels Company Limited (IHCL).
Tata Realty & Infrastructure has a portfolio of over 50 projects across 15 cities. It has so far developed 17.6 million sq ft of commercial projects and has 16.7 million sq ft of projects under development and planning. Ends
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