The company is expanding its existing technology parks in Pune, Bangalore and Hyderabad and will also be commencing on the development of a new IT park in Gurgaon, said Manohar Khiatani, President and Group CEO of Ascendas.
Ascendas IT Park specialist firm in Singapore is planning its expansion in India where it manages more than $1 billion worth of Tech Park assets.
"We believe in the future of India and are committed to growing in the country. We are constantly on the lookout for opportunities to invest or develop the right assets with like-minded partners," said Manohar Khiatani, President and Group CEO of Ascendas.
He noted Indian government's efforts in economic policy reform and in infrastructure and smart cities development.
"In the long-term, we believe key sub-sectors including the industrial, IT office and commercial space will continue to see a growth in demand. Leveraging on the projected strong demand for business space in India, we will continue to focus on first tier cities like Bangalore, Chennai, Delhi, Hyderabad, Mumbai, and Pune," Khiatani said.
"For us, India remains an interesting market with strong growth potential. It has a competitive, qualified labour force and global companies will continue to choose India to conduct their business, which has contributed to the success of our completed parks in India," he told PTI.
"The IT industry continues to grow as India moves up the industry value chain to provide cutting-edge services in software development as well as research and development to global technology companies," he said.
"We are expanding our existing technology parks in Pune, Bangalore and Hyderabad and will also be commencing on the development of a new IT park in Gurgaon. In addition, we are looking at further development and acquisition opportunities in the key cities that we are present in," he said.
"As we continued to invest in and grow our IT parks, we also observed India's desire and potential to grow its manufacturing sector," Khiatani said.
"There is demand for good quality industrial space and we have commenced development of a 1,450 acre industrial township in Chennai, OneHub Chennai, to cater to that demand," Khiatani added.
"At Ascendas, we believe in the business potential resulting from India's qualified and cost-efficient labour pool, particularly for IT software work, rising middle income class and the opportunities created from an economy with big population growing off a low base," he said.
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