Arihant Foundations and Housing Ltd, through its SPV – Vilaya Properties LLP, has entered into a partnership with Empee Hotels Ltd, the owners of Hilton Chennai, to develop a Grade A commercial space adjacent to the hotel. Spanning approximately 300,000 square feet and a Gross Development Value of around Rs 500 Crores, this project will integrate office space with hospitality services, creating a dynamic hub in one of Chennai’s most sought-after locations.
Strategically located in the most sought after commercial corridor of the city, this development is set to cater to the burgeoning demand for commercial office spaces including Global Capability Centres (GCCs) in Chennai. The city has recently emerged as a prime destination for GCCs, thanks to its robust infrastructure, skilled workforce, and favourable government policies. The new project by Arihant is poised to capitalise on this trend, offering state-of-the-art facilities that meet the needs of global enterprises.
Commenting on the partnership, Arun Rajan, Chief Executive Officer of Arihant, said, “This collaboration with Empee Hotels Ltd. represents a significant step forward in our commitment to delivering premium commercial spaces in Chennai. We are excited to develop this project alongside Empee Hotels (managed by Hilton), which will enhance the location’s appeal as a prime business destination. We believe this development will meet the growing demand for high-quality office spaces that cater to the needs of global companies establishing a presence in the city.”
Chennai’s increasing attractiveness as a destination for GCCs is reflected in the rising interest from global corporations looking to expand their operations in the region. This strategic project aligns with Arihant’s vision to deliver top-tier commercial spaces that cater to the evolving needs of businesses.
Shares of Arihant Foundations & Housing Limited was last trading in BSE at Rs. 402.10 as compared to the previous close of Rs. 394.25. The total number of shares traded during the day was 4946 in over 22 trades.
The stock hit an intraday high of Rs. 402.10 and intraday low of 402.10. The net turnover during the day was Rs. 1988786.00.
Source : Equity Bulls
Keywords
ArihantFoundationsandHousing
INE413D01011
Realty
SPV
Partnerhsip
EmpeeHotels
HiltonChennai
CommercialSpace
GradeA
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