Ascendas to invest Rs 790 cr to develop ITBP's 2nd phase

Kolkata, Apr 12 (UNI) Ascendas, Asia's leading business space provider, will invest Rs 790 crore to develop the second phase of International Tech Park Bangalore (ITPB).

A company release said Ascendas has further identified another 26 acres within the Park for a second phase to develop about three million sq ft areas.

The current ITBP, built in area of 400,000 sq ft Navigator to accommodate upto 4,000 employees, is already enjoying 80 per cent occupancy.

Starting operations in 1997, ITPB has played a catalytic role in the growth of IT Parks in India, and in the development of Whitefield as Karnataka's leading business hub.

More than 130 companies with over 20000 people comprise the community working out of ITPB.

Ascendas India CEO Jonathan Yap said ITPB had become the most sought-after IT destination to work in, where employees enjoy a truly international business lifestyle. This strong factor has helped the companies working at the Park to enjoy high retention rates.

UNI