Keppel Buys Chennai's One Paramount Tech Park for Rs.21 Bn

26 Jul 2024 CW Team

Keppel, a prominent player in real estate investments, has announced its acquisition of One Paramount Tech Park, a premier commercial property located in Chennai, for Rs.21 billion. This significant deal marks Keppel's expansion into India's burgeoning tech real estate sector.

One Paramount Tech Park, situated in the heart of Chennai's IT hub, boasts state-of-the-art infrastructure and a prime location, making it a highly coveted asset. The acquisition underscores Keppel's strategic push to strengthen its portfolio in high-growth markets and capitalise on the growing demand for high-quality commercial spaces.

The tech park spans a substantial area and is known for its modern design and eco-friendly features. It houses several leading technology and IT firms, contributing to its high occupancy rate and stable rental income.

Keppel's decision to acquire the property is aligned with its broader strategy of investing in key international markets and sectors with promising growth prospects. The firm aims to leverage its expertise in managing and developing commercial real estate to enhance the value of One Paramount Tech Park.

This transaction is also expected to benefit Chennai's commercial real estate market by adding a significant asset to its portfolio. The deal highlights Keppel's commitment to expanding its footprint in India and addressing the increasing demand for premium office spaces in the region.

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