Chennai-based Arihant Foundations and Housing Ltd, through its Special Purpose Vehicle (SPV) Vilaya Properties LLP, has entered into a partnership with Empee Hotels Ltd, the owners of Hilton Chennai, to develop a Grade-A commercial space next to the hotel. This new development will span approximately 3 lakh square feet, with a gross development value of around ₹500 crores.
This project will integrate office spaces with hospitality services, catering to the increasing demand for commercial office spaces in Chennai. The city has become a key destination for Global Capability Centres (GCCs) due to its strong infrastructure, skilled workforce, and supportive government policies.
Arun Rajan, CEO of Arihant, commented on the partnership, stating, “This collaboration with Empee Hotels Ltd represents a significant step forward in our commitment to delivering premium commercial spaces in Chennai.”
Arihant’s share price closed at ₹402.10, marking a 1.99% increase.
