Ascendas to foray into SEZ market

Bangalore, Sep 3 (UNI) Leading business space creator in Asia, the Singapore-based Ascendas, is looking forward to widen its base in India by entering the Special Economic Zone sector, adding to its growing IT park space stock.

Bouyed by the latest policy of the Centre on SEZ proliferation in the country, Ascendas India Chief Executive Officer Jonathan Yap told UNI here that ''SEZ is a good concept and we are keen to explore the possibility of having a share in building them.'' He said Ascendas, which had made a mark for itself in the IT Park concept in India and was currently housing 200 companies in its facilities in the country, was looking at other areas for its growth in the country.

Mr Yap said the IT boom would continue to last for India, with companies, despite infrastructure shortcomings, keen on having a presence in India. ''The growth of IT in the country appears crazy''.

With a wide foothold in Asia, Ascendas saw the growth coming from China and India, which were the main growth centres in the continent currently. However, to be in the reckoning, India should improve its infrastructure facilities, he said, adding that while China puts in place infrastructure before the private sector moved in, it was the reverse in India.

Some of the multinationals for whom Ascendas had offered business space in India have sought it to give similar space in China also, Mr Yap said.

Having property to the tune of four million sqft in Bangalore, Chennai and Hyderabad, Ascendas India had taken up a new concept of built-to-suit for some of its clients who need huge space to house a large number of personnel. One such building was coming up at the Information Technology Park-Bangalore (ITPB), for which a client had been firmed up and two were under negotiation. Its latest addition in ITPB 'Navigator' offering 400,000 sqft was nearing completion and would be thrown open later this month. Besides, it had in its fold a 40-acre land to meet the future growth and was looking for a second property in Bangalore, he said.

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