JLL facilitates JV between Genpact, Ramky Estates for co-development project
Hyderabad: JLL has facilitated a joint venture (JV) between Genpact and Ramky Estates & Farms Limited (REFL), a Hyderabad-based real estate developer, to develop 14.37 acres of land situated at Uppal, Hyderabad. The land parcel owned by IT major Genpact is situated next to their campus in Uppal. The company was looking at expanding its […]
Hyderabad: JLL has facilitated a joint venture (JV) between Genpact and Ramky Estates & Farms Limited (REFL), a Hyderabad-based real estate developer, to develop 14.37 acres of land situated at Uppal, Hyderabad.
The land parcel owned by IT major Genpact is situated next to their campus in Uppal. The company was looking at expanding its operations and IT footprint to cater to its growing business needs. JLL was able to get REFL to develop Grade A offices for Genpact.
Ramky Estates will build 20 lakh sq feet of Grade A IT/ ITES office space and nine lakh sq feet of residential space at the location over five years, under Genext Square project.
Vidya Srinivasan, global infrastructure & logistics leader, Genpact said, “At Genpact, our strategic infrastructure and campus investments over the years have positioned us well to attract a diverse and skilled workforce.”
“With the help of the GRID policy (Growth in Dispersion) and increase in connectivity through the Metro and the upcoming SRDP (Strategic Road Development Planning), and other initiatives taken by the government, there will be a spurt in diversified growth across the IT sector,” she added.
“With the ease of business in Telangana boosted by the infrastructure and supply of Grade A office space, Hyderabad has become the most sought out destination for IT/ITeS companies. Global companies like Genpact are increasing their footprint in Uppal, and with the initiatives taken by the government, we intend to see a rise in the demand for office space in East Hyderabad,” added Sandip Patnaik, MD, Telangana & Andhra Pradesh, JLL.
“Hyderabad is a city with no geographical constraints and has the scope to develop across all corners. With the high saturation of the western corridor, there is a huge opportunity to develop the east, which is abundant in space, infrastructural facilities, and talent,” said Nanda Kishore, MD, Ramky Estates.
Hyderabad has been leading the investment scenario with core and development stage transactions by leading global funds. The city has been preferred by marquee office space developers attracting quality tenants at the pre-commitment stage.
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