NCW Prime Offices Fund Acquires Keppel’s Chennai Campus for Rs. 2,550 Crore
Prime Offices Fund (PRIME), managed by Nuvama and Cushman & Wakefield Management (NCW), has secured a significant real estate deal in Chennai, acquiring Keppel’s 2.4 million sq. ft. office campus for Rs. 2,550 crore. This marks PRIME’s second major acquisition and one of the largest office market transactions in India.
Real EstateInvestmentChennaiOffice MarketAcquisitionReal EstateSep 28, 2025
PRIME is a commercial real estate-focused fund managed by Nuvama and Cushman & Wakefield Management (NCW). The fund’s strategy is centered around building a portfolio that aligns with the priorities of global occupiers, particularly in areas like sustainability, agility, and institutional-grade quality. The One Paramount campus, now under PRIME’s ownership, is leased to Global Capability Centres (GCCs) and domestic technology majors, reflecting the growing demand for premium office spaces in Chennai.
Gaurav Puri, Chief Investment Officer at NCW, highlighted the significance of the acquisition. “This deal reflects the rising demand from GCCs in Chennai and validates PRIME’s strategy,” he said. Puri emphasized that the fund is committed to creating a portfolio that meets the evolving needs of global occupiers, including a focus on sustainability and high-quality facilities.
The acquisition not only underscores the strength of the Indian office market but also highlights the strategic importance of Chennai as a hub for global technology and business operations. With its robust infrastructure and skilled workforce, Chennai continues to attract significant investments from both domestic and international players.
NCW, a leading real estate services and investment firm, brings extensive experience and expertise to the table. The company’s deep understanding of the Indian market and its focus on delivering value to investors make it a strong partner for PRIME in this and future acquisitions.
The One Paramount campus is a prime example of a modern, well-equipped office space that meets the high standards of global occupiers. The facility’s location in Porur, a rapidly developing area in Chennai, adds to its appeal. With this acquisition, PRIME is well-positioned to capitalize on the growing demand for quality office spaces in the region.
In conclusion, the acquisition of Keppel’s Chennai campus by PRIME is a testament to the fund’s strategic vision and the robust nature of the Indian real estate market. As PRIME continues to build its portfolio, it is poised to play a significant role in shaping the future of commercial real estate in India.
Frequently Asked Questions
What is PRIME?
PRIME is a commercial real estate-focused fund managed by Nuvama and Cushman & Wakefield Management (NCW). It aims to build a portfolio of high-quality office spaces that align with the priorities of global occupiers.
What is the value of the One Paramount campus deal?
The One Paramount campus deal is valued at about Rs. 2,550 crore.
Who are the current tenants of the One Paramount campus?
The One Paramount campus is leased to Global Capability Centres (GCCs) and domestic technology majors.
What is the significance of this acquisition for PRIME?
This acquisition marks PRIME’s second major deal and is one of the largest office market transactions in India. It reflects the rising demand from GCCs in Chennai and validates PRIME’s strategy.
What are the priorities of global occupiers that PRIME aligns with?
PRIME aligns with global occupiers’ priorities of sustainability, agility, and institutional-grade quality.
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