Partnership27 Aug 2024, 12:59 am
Arihant Group Signs JDA for Rs 500 Crore Commercial Development Adjacent to Hilton Chennai
AI Summary
Arihant Foundations & Housing Ltd, through its SPV - Vilaya Properties LLP, has entered into a partnership with Empee Hotels Ltd, the owners of Hilton Chennai, to develop a Grade A commercial space adjacent to the hotel. Spanning approximately 300,000 square feet and a Gross Development Value of around Rs 500 Crores, this project will integrate office space with hospitality services, creating a dynamic hub in one of Chennai's most sought-after locations. This development is strategically located in the most sought after commercial corridor of the city and is set to cater to the burgeoning demand for commercial office spaces including Global Capability Centres (GCCs) in Chennai.
Key Highlights
- Arihant Foundations & Housing Ltd has signed a Joint Development Agreement (JDA) with Empee Hotels Ltd for a commercial development project worth Rs 500 Crores.
- The project, spanning approximately 300,000 square feet, will be developed adjacent to the Hilton Chennai.
- The development will integrate office space with hospitality services, creating a dynamic hub in a prime location.
- The project is strategically located in the most sought after commercial corridor of Chennai, catering to the demand for commercial office spaces including Global Capability Centres (GCCs).
- The collaboration is a significant step forward in Arihant's commitment to delivering premium commercial spaces in Chennai.