Ivanhoe Cambridge Canada commits $100 million investment in Hyderabad's Genome Valley

Ivanhoé Cambridge, a global real estate company, has announced a commitment of $100 million investment to develop about one million square feet of lab space in Hyderabad's Genome Valley

Ivanhoé Cambridge is a subsidiary of the Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional fund managers.

Genome Valley in Hyderabad is India’s first and largest cluster for life science R&D and clean manufacturing housing more than 200 life sciences companies including Bharat Biotech that manufactures Covid-19 vaccine Covaxin.

Stating that the Telangana government has taken various initiatives to strengthen the cluster further, officials termed the project as "a big boost to the government's focus on the life sciences sector."

Leadership of Ivanhoe Cambridge met with Telangana's IT, industries and investment minister KT Rama Rao virtually on Wednesday and made the announcement.

"Ivanhoé Cambridge’s investment 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," a press statement said.

“This new investment in MN Park (Genome Valley-Hyderabad) allows us to reinforce our conviction in life science real estate, a key focus area of our diversification strategy into high growth, innovation-focused sectors,” said Chanakya Chakravarti, Managing Director (India), Ivanhoé Cambridge.

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