Biotech park all set for take-off

Bangalore-the IT capital of the country is all set to kickoff the operations of first Biotech park in the City. Bangalore Biotechnology Park called Alexandria Knowledge Park is being developed by the US-based Alexandria Real Estate Equities Inc. The biotech park, formerly called as Helix is spread across over an area of 53 acres of land in Electronic City.

The Alexandria Knowledge Park will be a integrated project with labspace, technology space, commercial space, hotel, serviced apartment among others, a press release said. The Park will also house Alexandria Incubator and ready-to-occupy lab-space.

"This park is being developed on public-Private partnership (PPP) format and the developer has achieved financial closure for the project and has also fulfilled all the conditions as per the Project Development Agreement. A Certificate of Compliance has already been issued to the Developers by us,” said B M Vijay Shankar, Managing Director - KBITS.

He further added that KBITS will extend all possible assistance to Alexandria Real Estate Equities in making the project a success by developing the project as a truly international research destination in Asia and attracting the best companies to come to Bangalore.

Once developed, the park will provide infrastructure for the biotechnology sector and would go a long way in promoting research and development in the sector. The master plan for this prestigious project of has been developed by New York based master planners - Perkins Eastman. Alexandria has committed 5.2 million square feet development in the park as per the master plan approved by the state government agencies.

In phase I of the park, the project will witness a minimum development of 400,000 sq ft of space over the next 5 years. The Park will provide cutting edge bio-tech infrastructure to the city of Bangalore  and will ensure readily available labspace for global companies looking at India to set up their research centres.