CHENNAI: : Considering India a "dynamic market for Information Technology", Ascendas, the flagship company of one of Asia's leading business space providers, is keen on quadrupling its investments for creating specialised IT parks.

"We have created a specialised International Investors IT Park Fund of Rs.1, 000 crores through which several hi-tech park projects have been taken up. We are happy that Ascendas Phase-I property providing 550,000 square feet of Grade A space for the IT and IT Enabled Service industries will be inaugurated by Chief Minister Jayalalithaa, along with Singapore Education Minister Tharman Shanmugaratnam, on Wednesday," Goh Kok Huat, Chief Operating Officer, told a press conference here on Tuesday.

He said Ascendas was also looking at expanding its investment in the tier-two cities.

The International Tech Park in Chennai (ITPC) had been constructed under a joint venture with the Tamil Nadu Industrial Development Corporation (TIDCO), which would hold 11 per cent equity. The rest would be with Ascendas.

Mr. Huat and Jonathan Yap, Head of South India, said the 11-storeyed hi-tech complex created on a 15-acre site on the information technology corridor would provide a vibrant international business lifestyle for knowledge workers and offer the 10,000-plus employees an unmatched opportunity to unwind after their work schedule.

"Over 80 per cent of the space has been sold", Mr. Huat said.

The line-up of multi-national companies with pre-lease commitments include Amazon, Caterpillar, Cordiant, iNautix, Profit Logic Software, Technosoft, and Visual Graphics (fully owned subsidiary of McKinsey and Company).

The ITPC is being equipped with lifestyle amenities such as cafes, restaurants, a retail mall, large food court, health club, medical and clinical facilities and travel agency and banks, surrounded by landscaped and water features.

It will showcase paintings and sculptures of by "lesser known artistes" from both the countries to reflect the corporate social responsibility of Ascendas and to further the ties between India and Singapore.

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