Ascendas
to build Rs 4-bn IT park in Kolkata
Reuters
Bangalore,
August 23
Bangalore,
August 23: Singapore-based property developer Ascendas
Pte Ltd said on Tuesday it would develop a Rs 4-billion
technology park in the eastern Indian city of Kolkata.
The
developer, whose Ascendas Real Estate Investment Trust
is Singapore's second-biggest listed property trust, said
in a statement the project's first phase would start next
January, with completion expected in early 2007.
A
company spokeswoman in Singapore said the investment in
the city was separate from a Rs 10-billion technology
parks fund it announced in June.
India's
$17.2-billion software and business service industry is
driving growing demand for office space. Ascendas already
has business parks in Hyderabad and Bangalore.
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