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Singapore-based Keppel set to divest Chennai's One Paramount office park for Rs 2,750 cr
M & A Critique
|October 2025
Singapore-based Keppel is set to divest its office asset One Paramount office park in Porur, Chennai, to Prime Offices Fund, managed by Nuvama Asset Management and Cushman & Wakefield (NCW), for about 2,750 crore, according to people familiar with the matter.
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The development underscores surging investor interest in India's burgeoning office markets.
Spanning 2.4 million square feet, One Paramount is a Grade-A tech park housing global tenants such as Genpact, Maersk, UPS, VMware and Hitachi Energy. The property is part of a 12.6-acre development.
Queries emailed to XX did not elicit a response till press time.
In mid-2024, Singapore-based global asset manager and operator Keppel had acquired One Paramount 1 tech park in Chennai for about Rs 2,100 crore. The prime office asset was jointly owned by real estate developer RMZ Corporation and Canadian pension fund CPP Investments.
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