CapitaLand Group has announced a Rs 450 crore investment to develop a state-of-the-art 1 million square foot IT park in Hyderabad.

The announcement was made following a high-level meeting in Singapore, attended by Telangana Chief Minister A Revanth Reddy, IT Minister D Sridhar Babu, state officials and senior CapitaLand executives, including CapitaLand India Trust Management Pte. Ltd CEO & ED Gauri Shankar Nagabhushanam, according to an official release.

Chief Minister Revanth Reddy welcomed the investment decision and described it as a milestone in reinforcing Hyderabad's position as a leading business and technology hub.

The upcoming project is part of CapitaLand's broader development pipeline in Hyderabad. This new project will cater to the increasing demand from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities, it said.

Gauri Shankar Nagabhushanam said."We are excited to expand our footprint in Hyderabad, leveraging its vibrant ecosystem to deliver sustainable and world-class infrastructure." CapitaLand operates three prominent business parks in Hyderabad-- International Tech Park Hyderabad (ITPH), aVance Hyderabad, and CyberPearl."