Bangalore: Singapore developer Ascendas says it will spend $180 mn (Rs810 crore) more expanding its flagship project in India, increasing its investment in the facility by more than three-fourths.
The company celebrated the 10th anniversary of the information technology park in Bangalore on 10 April, by opening a sixth building on the sprawling 20-acre campus.
Ascendas will now start developing 26 acres more land to create additional office space according to market demand, the company said in an official statement.
About 130 Indian and international companies with 20,000 employees work out of the IT park, on which Ascendas has invested $220 mn so far.
A 200-room luxury business hotel located at the park is expected to open next year.
The facility pioneered the concept of dedicated information technology parks in India, offering ready-to-move-in office and residential space and “plug-and-play” IT infrastructure for tenants.
Ascendas develops, manages and markets IT, industrial, business and science parks, and office and retail space in Asia including Singapore, India, China, the Philippines and South Korea.