Ivanho Cambridge, Lighthouse Canton to invest $ 100 mn in life sciences R&D facilities in Hyderabad

Hyderabad, July 7 (PTI): Ivanho Cambridge, a Canadian real estate company, along with Lighthouse Canton, a financial institution in Singapore, is to invest USD 100 million in MN Park in Genome Valley here.

The investment is in research and development of life sciences facilities of MN Park in the ratio of 80:20 by the Canadian and Singapore companies, a press release said on Wednesday.

The initial focus would be on consolidating the portfolio with select value-accretive acquisitions in relevant life science R&D clusters in India.

The transaction also includes the completion of development on identified land options within the portfolio to cater to tenant expansion requirements, the release said.

This is the first time a global pension fund is investing in life sciences R&D real estate in the country, the release said.

Genome Valley, being the core of that investment, reinforces Hyderabads leadership position in the life sciences R&D sector.

''Our collective vision is to invest circa USD 100mn and double the existing infrastructure, thereby adding over one million square feet of life sciences facility in the next few years, Sanket Sinha, Head, Asset Management, Lighthouse Canton, was quoted as saying in the release.

This new investment in MN Park 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, Chanakya Chakravarti, Managing Director (India) of Ivanho Cambridge, said in the release.

MN Park is Indias largest privately-owned portfolio of leased life sciences R&D office labs offering fully fitted lab spaces, incubation and R&D facilities, storage spaces, office spaces, large open recreational spaces, and a host of amenities occupied by global and domestic credit tenants, among others, according to the release.