Gurgaon to get IT park worth $400 million

Singapore-based business space solutions provider Ascendas-Singbridge said it would develop a information technology Park in Gurugram at a project cost of $400 million.

The 60-acre information technology park will provide 8 million sq. ft. of business space that can cater to an estimated 60,000 professionals after its completion, according to the company.

In the first phase, the company would develop two buildings with about 1 million sq. ft. office space. It would complete Phase 1 in Q4 of 2017.

“ITPG will be our eighth information technology park in India and we are convinced that this development will enhance the attractiveness of the NCR and help create quality jobs,’’ Manohar Khiatani, CEO, Deputy Group, Ascendas-Singbridge, said. Stating that India is a key market for the company, Mr. Khiatani said India and China were biggest markets for the company out side of Singapore. Other big markets include Japan and Korea.

Ascendas-Singbridge India CEO Sanjay Dutt said Gurgaon was the focal point of economic growth in NCR and second largest office market in India with significant investments made by large multinational corporations.

In India, the company has about 11 million sq. ft. of assets under management. It has information technology Parks in Bangalore, Chennai, Hyderabad and Pune.

Source: Hindu

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