Information Technology Park Ltd (ITPL) has stepped up the development of its flagship property - The International Tech Park, India's most prestigious technology park with 'Inventor' - the fifth multi-tenanted building. This is in addition to the existing buildings - Discoverer, Innovator, Creator and Explorer buildings.
Dr. Tony Tan, Hon'ble Deputy Prime Minister, Republic of Singapore and Mr. Dharam Singh, Hon'ble Chief Minister of Karnataka today inaugurated the latest building -'Inventor' at the International Tech Park Bangalore.
Among the other dignitaries who graced the event, were Mr. Lew Syn Pau - Chairman, Ascendas Pte. Ltd, Ms. Chong Siak Ching - President & CEO, Ascendas Pte. Ltd. and Director, ITPL, Mr. K A Chaukar - Managing Director, Tata Industries Ltd, and Director, ITPL and HE See Chak Mun, Singapore High Commissioner to India.
'Inventor' is part of the phased development of the International Tech Park. The building has been constructed as a multi-tenanted 9-storey (ground + 8 floors) building and is fully-equipped with all value-added facilities available in the Park. 'Inventor' has a built-up area of about 280,000 sq. ft. and a typical floor plate of appx. 31,000 sq. ft., taking the Park's total built-up area close to 2 million sq ft. The total Investment of US$165 million has been committed to the Park so far.
Ms. Chong Siak Ching, President & CEO, Ascendas Pte. Ltd and Director, ITPL said, "In January 2004 we had celebrated the First Pour of the Inventor Building and we are indeed happy to have been able to complete construction in just 10 months."
Ms. Chong also added, "Bangalore continues to be the city of choice for IT companies in India. For the first half of this year, it attracted 1.8 million sq. ft. of occupants, followed by Hyderabad and Chennai. As long as Bangalore continues to upgrade its infrastructure in pace with the strong demand, we are confident that the silicon valley of India will continue to shine. Ascendas is committed to growing our presence in Bangalore and we look forward to the continued support of the Government of Karnataka."
Mr. K A Chaukar, Managing Director - Tata Industries Ltd. and Director, ITPL. In his address said, "The Park has become an icon and is a testimony to many other technology parks that are mushrooming across the country. As it continues to expand, I am sure International Tech Park will continually redefine the concept of quality business space in India."
The International Tech Park Bangalore is a global technology hub currently housing over 100 companies employing over 15,000 people. The Park enjoys 100% occupancy and has a good mix of multi-national corporations and Indian companies.
Shri Dharam Singh, Honorable Chief Minister, Government of Karnataka in his ceremonial address said, "International Tech Park has been a catalyst for the progress of the IT sector in Karnataka. The Government of Karnataka will continue to support the Park in all its future endeavours to retain its pre-eminent status as the most preferred tech park in India.
Speaking on the occasion of the Opening Ceremony of the Inventor building, Dr. Tony Tan, Honorable Deputy. Prime Minister, Republic of Singapore said, "ITPL today has set the benchmark for a new generation of technology parks in India, particularly in Bangalore. The Park has come to epitomize the strong bilateral relationship between India and Singapore. It reflects our strong mutual commitment to foster trade, commercial, people and cultural exchanges."
As part of its development plans, the International Tech Park is also offering Build-to-Suit (BTS) facilities, enabling customers to enjoy the benefits of off-balance sheet financing and free up valuable resources to focus on their business operations. Each BTS facility offers real estate solution designed and customized to the occupant's needs, which can be ready within 12 months or earlier depending on the specification. It can be made available to a single occupant company with building naming rights and the option for lease or sale.
