Canada based company, Ivanhoe Cambridge on Wednesday announced that it will be setting up its unit in Genome Valley through MN park with an investment commitment of USD 100 Million for the creation of about 1 Million SFT lab space in Genome Valley.
The company will be setting up its lab space with an investment of Rs.740 crore in Genome Valley, which is the biggest research centre for life sciences with 200 companies in the country.
This is one of the first such transactions by a pension fund in the life sciences real estate segment in South Asia and shall set a benchmark for the sector in India. An investment of this nature in Hyderabad reinforces the leadership position in the life sciences sector.
Ivanhoe Cambridge holds interest in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors.
On this occasion, KT Rama Rao said that investment by the company will be a milestone in enhancing the infrastructure in the field of life sciences. The investments will further help in increasing laboratory space for life sciences.
“I’m delighted to announce the entry of Ivanhoe Cambridge, Canada in Genome Valley through MN park with an investment commitment of USD 100 Million for the creation of about 1 Million SFT lab space in Genome Valley," he said.