Arihant Group joins forces with Empee Hotels for Rs 500cr commercial development in Chennai

Arihant Foundations and Housing Ltd, through its Special Purpose Vehicle (SPV) Vilaya Properties LLP, has signed a Joint Development Agreement (JDA) with Empee Hotels Ltd, the owners of Hilton Chennai, for a significant commercial development adjacent to the hotel. The project, valued at approximately Rs 500 Crore, will create a 300,000 square feet Grade A commercial space, integrating office facilities with hospitality services to form a vibrant business hub in Chennai’s premier commercial corridor.

This strategic development is poised to cater to the rising demand for commercial office spaces, particularly Global Capability Centres (GCCs), in Chennai. The city has increasingly become a preferred destination for GCCs, thanks to its strong infrastructure, skilled workforce, and supportive government policies. Arihant’s new project aims to capitalise on this trend, offering state-of-the-art facilities tailored to the needs of global enterprises seeking to establish or expand their operations in the region.

Arun Rajan, Chief Executive Officer of Arihant, highlighted the significance of the collaboration, stating, “This partnership with Empee Hotels Ltd. is a major milestone in our mission to provide premium commercial spaces in Chennai. We are thrilled to develop this project in conjunction with Empee Hotels (managed by Hilton), which will elevate the location’s status as a prime business destination. This development will undoubtedly meet the growing demand for high-quality office spaces from global companies establishing a presence in the city.”

Chennai’s allure as a hub for GCCs is underscored by the increasing interest from multinational corporations eager to expand in the area. Arihant’s latest venture aligns with its vision of delivering top-tier commercial spaces that cater to the dynamic requirements of modern businesses.

Arihant Foundations and Housing Ltd is a prominent real estate developer in India, known for its high-quality residential and commercial projects across the country.