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Arihant Foundations and Housing inks JDA for Rs 500-cr development in Chennai

Tuesday, 27 Aug 2024
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Arihant Foundations and Housing, through its SPV, Vilaya, has entered into a partnership with Empee Hotels, the owners of Hilton Chennai, to develop a Grade-A commercial space adjacent to the hotel. Spanning approx. 3,00,000 sq. ft. this project will integrate office space with hospitality services, as a dynamic hub in the city. It will yield a gross development value (GDV) of around Rs 500 crore.

Strategically located in the most sought after commercial corridor of the city, this development will cater to the demand for commercial office spaces including global capability centres (GCCs) in Chennai. The new project by Arihant will offer facilities that meet the needs of global enterprises for high-quality office spaces. It will enhance the location's appeal as a prime business destination.

The city has recently emerged as a prime destination for GCCs, led by its infrastructure, skilled workforce, and favourable government policies, as global corporations look to expand their operations in the region.

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