Real estate company IndiaLand Group, based in Madrid, Spain, has recently announced its collaboration with four leading multinational corporations (MNCs) to facilitate their expansion in India.
Prominent Tech Parks in Pune and Coimbatore
The collaboration focuses on providing grade-one office spaces to the MNCs in prominent tech parks in Pune and Coimbatore. In Pune, two well-known companies, Regal Rexnord (a US manufacturer of electric motors and power transmission components) and Atlas Copco (a Swedish multinational industrial company), have secured office spaces at IndiaLand Global Tech Park in Hinjewadi, which boasts a sprawling area of approximately 5 million square feet. In Coimbatore, two other notable MNCs, Bosch (a German multinational engineering and technology company) and Cotiviti (a US-based health tech firm specializing in data and analytics), have secured floor spaces in the IndiaLand Tech Park. The Coimbatore IndiaLand Tech Park spans around 1.1 million square feet and is slated to become a bustling hub for innovation.
Driving Advanced IT Park Demand
These developments align with projections of continued growth in the country’s tech space. It is expected that these collaborations will drive the demand for advanced IT park space by an impressive 40%. The offices in both tech parks are set to come into operation by the first half of 2024, marking a significant contribution to India’s commercial real estate sector.
Promoting Green Real Estate Practices
The office spaces have been meticulously designed to cater to the unique needs of these MNCs while maintaining a focus on eco-friendly and sustainable features. This commitment to green real estate practices is aligned with the global trend of environmentally conscious buildings.
India’s Potential as a Global Business Hub
India has been gaining recognition as a key tech hub, with its leading cities consistently ranking among the top three in the Asia-Pacific region and the top 10 globally. These collaborations further highlight India’s potential to become a hub for global businesses, contributing significantly to the nation’s economic growth and employment opportunities. Expressing his delight regarding the collaboration, Harish Fabiani, Chairman of IndianLand Group, remarked, “We are delighted to welcome Regal Rexnord and Atlas Copco to the Indialand Global Tech Park. Their decision to establish operations here is a testament to Pune’s reputation as a leading technology hub. We look forward to supporting their growth and success in our ecosystem.” SalaiKumaran, CEO at IndiaLand Group, emphasized the positive impact of Bosch and Cotiviti expanding their footprint in Coimbatore, stating, “Their presence will further enhance Coimbatore’s position as a burgeoning tech destination and contribute to the city’s development as a knowledge-driven economy.”
A Benchmark in Commercial Real Estate
IndiaLand Group aims to set a benchmark in the Indian commercial real estate market with its upcoming IndiaLand Tech Park Tower D. The company’s focus is on offering sustainable infrastructure and modern amenities to foster growth for commercial entities in the tech space, capitalizing on the projected growth of the Indian commercial real estate market, expected to become an impressive US$8.36 trillion market by 2028.
Driving India’s Economic Growth
The collaboration between IndiaLand Group and the four MNCs represents a significant step towards boosting India’s standing as a preferred destination for multinational corporations looking for expansion opportunities. By providing a conducive environment with top-notch infrastructure, India’s tech ecosystem is set to flourish, driving economic growth and creating more employment opportunities nationwide.
