Olympia Cyberspace, a unit of Chennai-based real estate player Olympia group, announced that it is building a 1.1 million square-feet greenfield IT park, jointly with a US private equity fund Apollo Global. Apollo Global, one of the world’s largest alternate investment platform with $270 billion in assets under management, is a joint venture partner of Olympia for this project. The campus which is situated in the heart of the city will be constructed within three years. Ajit Kumar Chordia, MD, Olympia Group said, “The ongoing demand for office space in the city has prompted the development of IT park. The project will have a total investment of about Rs 750 crore and is expected to generate employment for 12,500 IT professionals directly, apart from indirect employment. This is a milestone for the group in the IT office space vertical”.
Olympia Group is the pioneer to build IT parks in Chennai. The Olympia Tech Park, the largest and one of the oldest information technology office locations in Chennai, is also the city’s first largest gold rated green building by USGBC, housing Fortune 50 companies as its tenants.