NEW DELHI: Ascendas, an Asian business space provider, has announced that Phase 1 of its first project in Chennai, the International Tech Park, Chennai (ITPC), is nearing completion and would be ready for fit-outs in May 2005.

Phase-I, being developed by a consortium of Singapore-based companies, leveraging on the island-nation's design and construction expertise, would make available 5.25 lakh sq ft of quality space for IT companies. Beyond physical space, Ascendas has introduced concept of work-play in motion with extensive landscaping, water features and stylish artworks. Value added features such as a large food court, al fresco dining, retail outlets and a fully equipped fitness center would bring city conveniences to the tenants of the Park.

Speaking on the occasion, Minister for Industries of the Tamil Nadu Government Nagenthran said, "The Tamil Nadu State has progressed well as a destination of choice for IT and ITES companies. Chennai ranks as one of India's most promising destinations in which more IT companies are likely to expand. The demand for world-class infrastructure is on the rise and the injection of Singapore's real estate expertise in creating this landmark IT Park will be catalytic to Chennai's development as the location of choice for expanding companies."

With ITPC nearing completion, companies in the IT and ITES sector on the expansion track will have a premium choice of world-class business infrastructure within Chennai's IT corridor of Chennai. Currently, companies such as iNautix, Profit Logic Software, Fitness One, Paris Bijoux and Sumanas Florist have already signed up to locate in the park.