CapitaLand advances construction of state-of-the-art data centre at Madhapur
The construction project involves the installation of GIS9 cabling and a 220KV GIS9 substation, with contracts for these components already finalized.
Hyderabad: CapitaLand India Trust is making significant progress in the construction of its data centre at the International Tech Park campus in Madhapur, Hyderabad, a recent report by CapitaLand said. All necessary development permissions have been secured, and crucial contracts have been awarded.
The construction project involves the installation of GIS9 cabling and a 220KV GIS9 substation, with contracts for these components already finalized. Power sanctions have been obtained, and contracts for a gas-insulated substation and associated cabling are also in place, as stated in the report. Superstructure works are currently underway at the site, the press release said.
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CapitaLand has reported active ongoing leasing discussions, signaling a positive outlook for the project. The data centre is designed with a power load capacity of 40 MW.
As of December 31, 2023, the valuation of CapitaLand DC ITPH stood at Rs 3,232 million, with a Cap Rate of 9.00 per cent. This represents a significant increase compared to the valuation on December 31, 2021, which was Rs 2,255 million, also at a Cap Rate of 9.00 per cent. The difference between the two periods is an impressive 43.3 per cent.
The redevelopment plan aims to enhance the development potential, revitalize the existing International Tech Park, and capitalize on the robust demand in Hyderabad. The report mentions that the master plan for International Tech Park is being revised to accommodate the development of a data centre. Following the completion of phase 1, spanning 1.4 million sq ft, an additional 2.3 million sq ft of leasable area, including the data centre area, is planned for subsequent phases over the next 7 to 10 years.
In addition to the International Tech Park data centre, CapitaLand’s aVance Business Hub 2 is making progress. The expected completion time for aVance A1 is the second half of 2024, while construction on aVance A2 is currently on hold.
