Axis Commercial Real Estate Fund and Tishman Speyer Break Ground for Grade-A Office Development at FinTech City, Chennai

Axis Commercial Real Estate Fund (Axis CRE Fund), in collaboration with global real estate leader Tishman Speyer, announced the groundbreaking ceremony of its commercial development “The Cube”at FinTech City, Nandambakkam, Chennai. “Fintech City”is conceptualized and created by Tamil Nadu Industrial Development Corporation (TIDCO) with its state-of-the-art infrastructure. Axis CRE Fund has bagged one of the first two plots through auction process. 

The groundbreaking ceremony was held today at the project site and witnessed the presence of key dignitaries, including Dr. T.R.B. Rajaa, Minister for Industries, Government of Tamil Nadu, Mr. T M Anbarasan, Minister for MSME, Government of Tamil Nadu and elected Member of the Legislative Assembly, Mr. Arun Roy, Secretary, Industries Department, and Mr. Sandeep Nanduri, Managing Director, TIDCO. Representing Axis Asset Management Company Limited (Axis AMC),investment manager to Axis CRE Fund, was Mr. B Gopkumar, MD & CEO and representing Tishman Speyer India was Mr. Parvesh Sharma, Country Head. 

This strategic alliance between Axis CRE Fund and Tishman Speyer plans to develop approximately 400,000 sq. ft. of Grade-A office space, reinforcing Chennai’s position as a fast-growing commercial hub with immense opportunities for businesses and investors. The upcoming Grade-A office building will cater to the growing demand for premium commercial spaces in Chennai for companies operating in BFSI segment, offering modern amenities and sustainable design features. 

Speaking at the event, Mr. B Gopkumar, MD & CEO, Axis AMC said, “We are delighted to commence this landmark development at FinTech City, Chennai, a testament to our belief in Tamil Nadu’s dynamic growth story and its emergence as a preferred destination for global businesses. Chennai has consistently demonstrated strong fundamentals—robust infrastructure, skilled talent pool, and a progressive industrial ecosystem—which make it an ideal location for Grade-A commercial spaces.” 

Dr. T.R.B. Rajaa, Minister for Industries, Government of Tamil Nadu said, “The Cube in Fintech City reflects Tamil Nadu capabilities to build world-class infrastructure that attracts the best talent, the best companies and the most forward-looking ideas in the BFSI sector. This partnership between Axis and Tishman shows what is possible when global capability, strong design thinking and Tamil Nadu’s policy ambition come together. Under the leadership of Honourable CM Thiru. MK Stalin, we see Fintech City as the start of a new phase for Chennai in BFSI and fintech.” 

Mr. Parvesh Sharma, Country Head, Tishman Speyer India added, “The groundbreaking of The Cube marks an important milestone in Tishman Speyer’s continued growth in India. Chennai is emerging as one of the country’s most dynamic markets, and FinTech City represents the next frontier in the city’s commercial development. The Cube reflects our shared commitment to creating world-class, sustainable office environments that foster innovation and drive economic growth. Together with Axis CRE Fund, we aim to deliver a future-ready workspace that attracts leading businesses and supports Chennai’s expanding financial and technology ecosystem.” 

This is the first investment from the Axis Commercial Real Estate Fund, Category II AIF. The Fund employs a distinctive strategy of participating in the development phase of commercial real estate projects through a strategic alliance with Tishman Speyer, a global developer, owner, and operator of premier real estate. The fund's focus is on investing primarily in commercial real estate projects across eight key markets, with the goal of creating top-tier office spaces to attract leading tenants.

 

 

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