Ascendas gives 6.5 lakh sq ft office space on lease in Gurugram IT-SEZ

Singapore-based CapitaLand group firm Ascendas has leased around 6.5 lakh sq ft area in its IT-SEZ at Gurugram to various corporates, including UnitedHealth group, a top company official said.

The company has developed one million sq ft area in the first phase of its 60 acre project International Tech Park Gurgaon (ITPG). The project has a total development potential of 8 million sq ft that can cater to over 60,000 professionals.

"The first phase of our ITPG project has become operational. We have already leased about 6.5 lakh sq ft out of 10 lakh sq ft area," said Vinamra Srivastava, CEO, Ascendas India Operations and Private Funds.

Optum, which is the health service platform of UnitedHealth Group, has committed 4,55,000 sq ft area. Admiral Technologies, Software One, and Toluna have also taken space in the SEZ.

"ITPG comes with a strong legacy and hallmark of excellence associated with other Ascendas' IT parks in Bangalore, Chennai, Hyderabad and Pune catering to over 300 organisations and 120,000 professionals," Srivastava said.

Gurugram is the focal point of economic growth in NCR with significant investments made by large MNCs, he said, adding he expected the momentum to continue.

ITPG aims to be one of the leading tech parks in the region catering to 100 per cent EOU (Export Oriented Units) under IT and ITES, bioinformatics, software development, telecommunications, electronics and other hi-tech and R&D industries.

Ascendas is a member of CapitaLand, one of Asia's largest diversified real estate groups.

Headquartered and listed in Singapore, CapitaLand owns and manages a global portfolio worth over 123 billion Singapore dollar with the completion of its acquisition of Ascendas-Singbridge by end June 2019.

With presence across more than 200 cities in over 30 countries, the group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA.

In India, CapitaLand has a strong presence with a portfolio of 25 business and IT parks, industrial, lodging and logistics properties across eight cities -- Bengaluru, Chennai, Goa, Gurugram, Hyderabad, Mumbai, Pune and Sri City.