Ivanhoe Cambridge of Canada to invest $100 million in Genome Valley

Our Bureau Hyderabad | Updated on July 07, 2021

To develop 1 million sqft of lab space in one of the first such investments by a pension fund in South Asia’s life sciences realty

Ivanhoe Cambridge, a global real estate subsidiary of the Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional fund managers, announced its entry into Genome Valley and committed to invest of $100 million to develop about 1 million sqft of lab space in the life sciences cluster.

Genome Valley in Hyderabad is India’s first and largest cluster for life sciences R&D and clean manufacturing, housing more than 200 companies. The Telangana Government has taken various initiatives to strengthen the cluster further.

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A leadership team of Ivanhoe Cambridge and Lighthouse Canton, led by Chanakya Chakravarti, MD and Head, Ivanhoe Cambridge India, interacted virtually with Telangana Industries Minister KT Rama Rao today and made this announcement.

Ivanhoe Cambridge’s investment in Genome Valley’s MN Park is in line with its global strategy of focusing on sectors that foster innovation and long-term growth fundamentals. This is one of the first such transactions by a pension fund in the life sciences real estate segment in South Asia and will set a benchmark for the sector in India. An investment of this nature reinforces Hyderabad’s leadership position in the life sciences sector.

Ivanhoe Cambridge brings deep investing expertise in real estate globally. The company held C$60.4 billion in real estate assets as at December 31, 2020, and, through subsidiaries and partnerships, it holds interest in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors.

Minister Rama Rao, in a statement, said, “Delighted to announce the entry of Ivanhoe Cambridge, Canada in Genome Valley through MN Park with an investment commitment of USD 100 Million.”

“This new investment in MN Park, Hyderabad, allows us to reinforce our conviction in life science real estate, a key focus area of our diversification strategy into high-growth, innovation-focused sectors,” Chakravarti, said. “We anticipate that India, and Hyderabad, will further cement its position in the global life science arena in the post-pandemic world,” he added.

Published on July 07, 2021

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