Hyderabad: In the Booster’s shot for the Life Sciences Sector Telangana, Canada Real Estate player Ivanho Cambridge and Lighthouse Canton on Wednesday announced a $ 100 million investment commitment (RS 748 Crore approximately) to develop almost 1 million SQ FT Laboratory Space R & D at Genome Valley in Hyderabad.
Ivanhoe Cambridge, Canadian Institutional Fund Manager Arm Caisse de Dépôt Et Placement du Québec (CDPQ), and Singapore-based Canton Lighthouse will invest (80:20) at MN Park which provides R & D laboratory space and innovation infrastructure at Genome Valley.
Ivanhoe Cambridge said his investment at MN Park was in line with its global strategy focused on the sector that encouraged innovation and fundamental long-term growth.
“We anticipate that India, and Hyderabad in particular, will further strengthen its position in the global life science arena in the post-pandemic world,” Chakya Chakravarti, Managing Director-India, Ivanho Cambridge.
Indicates that this is the first time the Global Pension Fund invests in the life science of R & D Real Estate in this country, Sanket Sinha, Management of Head-Assets, Lighthouse Canton, Singapore, said investment strengthened the position of Hyderabad’s leadership in the R & D SCIENCES sector.
“Our collective vision is to invest $ 100 million and double the existing infrastructure, thus adding more than 1 million square feet of life science facilities in the next few years,” Sinha added.
The Ivnoe Cambridge and Lighthouse Canton Top Honchos also held a virtual meeting with the Telangana Industry Minister KT Rama Rao during the day.
While Genome Valley is one of the biggest lifesces in India R & D and clean manufacturing clusters of housing more than 200 companies, MN Park is said to be the largest private portfolio in the country from Life Leasing R & D science which is currently occupied by More than 20 lifescence entities.