Financial Daily from THE HINDU group of publications
Monday, Oct 25, 2004
Financial Daily from THE HINDU group of publications Monday, Oct 25, 2004 |
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Info-Tech
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Infrastructure Industry & Economy - Real Estate & Construction IT continues to push real estate demand in Chennai Our Bureau
Chennai , Oct. 24 THE IT (information technology) and ITES (information technology enabled services) sectors will continue to lead the real estate demand here with most corporates preferring built-to-suit space, according to a market summary for September from Cushman & Wakefield, real estate consultants. New additions to existing commercial office space stock is likely to take place in the suburbs, the summary said. Some of the recent developments are: UK's Cartel Group Holdings Plc, has entered a joint venture with Supersight Ceequence for establishment of Cartel BPO and call centre operation. Supersight Ceequence has been managing Cartel's mortgage business from its Chennai centre since early 2003. LanceSoft, a subsidiary of LanceSoft Inc. US has announced its expansion plans for Chennai with the aim of providing service and support to its global business operations. The centre is expected to have 1,000 employees in the next one year and will also function as a research and development centre for LanceSoft's vertical market segment. Another third party business process outsourcing company, 24/7 is also expanding its geographical presence by setting up a new facility here. The facility, which would have an initial capacity of 250 seats, will be expanded to around 500 seats in six months, according to the Cushman report.
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