Axis Commercial Real Estate Fund Makes Maiden Investment in Chennai's Fintech City
The fund targets high-quality office spaces in eight key markets to attract top-tier tenants, partnering with global developer Tishman Speyer.
Axis Commercial Real Estate FundTishman SpeyerChennai Fintech CityCommercial Real EstateOffice SpacesReal EstateAug 13, 2024
The acquired plot is part of a broader vision by the Tamil Nadu government to develop a Fintech City, aiming to attract ₹12,000 crore in investments and generate 80,000 jobs. The plot will be transformed into a sustainable, around 4 lakh square foot Grade A office building within the next three years, approximately.
Tishman Speyer will serve as the exclusive development manager, handling design, development, leasing, and property management for the project. This investment marks the first foray of Axis Commercial Real Estate Fund into the Chennai market.
Axis Commercial Real Estate Fund is a category II alternative investment fund with a corpus of around ₹550 crore. The fund focuses on early-stage commercial real estate projects, targeting high-quality office spaces in eight key markets to attract top-tier tenants.
The partnership between Axis Asset Management and Tishman Speyer brings together the expertise of two leading players in the real estate industry. Tishman Speyer is a global real estate developer with a presence in 28 cities worldwide, while Axis Asset Management is one of the leading asset management companies in India.
The investment in Chennai's Fintech City is a testament to the growing demand for high-quality office spaces in India's key markets. With its strategic location and world-class infrastructure, Fintech City is poised to become a hub for financial and technology companies in the region.
Information
Axis Asset Management is one of the leading asset management companies in India, with a presence in 32 cities across the country. The company offers a range of investment products and services to institutional and individual investors.
Tishman Speyer is a global real estate developer with a presence in 28 cities worldwide. The company has developed over 125 million square feet of office space globally, with a focus on sustainable and high-quality projects.
Axis Commercial Real Estate Fund is a strategic partnership between Axis Asset Management and Tishman Speyer, focusing on early-stage commercial real estate projects in India.
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