Shamirpet’s MN Park at Genome Valley will soon expand by around 1,80,000 square feet of life sciences space. Its intentions to build an additional 2,50,000 sqft with an extra expenditure of Rs 150-200 crore have also been strengthened.
In two to three years, this will be ready. Sanket Sinha, executive director and global head of asset management for Lighthouse Canton, stated that the company now occupies roughly 8.5 lakh square feet and that this investment is a part of its aims to increase its portfolio in this location.
In 2016, Lighthouse Canton acquired this from Alexandria. It established a cooperation with Ivanhoé Cambridge, the real estate division of Canadian institutional investment managers, in 2021. Ivanhoé Cambridge and Lighthouse Canton jointly invested in the Genome Valley offices.
“Genome Valley is the first life sciences real estate project where a pension fund has invested in South and Southeast Asia. Right now, we have 8.5 lakh sqft and we are adding about 1,80,000 sqft in about two months,” Sinha said, adding that about 50 per cent of the new space planned is booked.
