ITPL to open $15 m building

NEW DELHI: Information Technology Park Ltd (ITPL) is stepping up the development of its India flagship property, ITPL, with the new $15 million building 'Inventor'. According to the press release, scheduled to be ready for occupancy by December 2004, 'Inventor' will be the fifth building at the International Tech Park, Bangalore, adding on to the existing four buildings.

Deputy Prime Minister of the Republic of Singapore Lee Hsien Loong, Chief Minister of Karnataka SM Krishna and Govt. of Karnataka Minister for IT and Biotechnology DB Inamdar graced the 'First Pour' of concrete ceremony for the 'Inventor' building to officially commence construction on January 12.

Chairman of ITPL Ratan N Tata, chairman of Ascendas Pte. Ltd. Lew Syn Pau and President & CEO of Ascendas Pte. Ltd and Chairperson, executive committee, ITPL Chong Siak Ching were among the other dignitaries who attended the event.

'Inventor' will be constructed as a multi-tenanted nine-storey (ground + eight floors) building and will be fully equipped with all value-added facilities available in the Park, including the Wi-Fi facility. It will have a built-up area of about 280,000 sq. ft. and a typical floor plate of approximately 31,000 sq. ft., increasing the Park's total built-up area close to two million sq ft on completion.

As part of its development, the International Tech Park also offers Build-to-Suit (BTS) facilities. Each BTS facility offers a minimum built-up area of about 100,000 sq ft. that can be designed and customized to the occupant's needs, which can be ready within 12 months. It can be made available to a single occupant company with building naming rights and the option for lease or sale.

In his welcome address, Tata said, "ITPL has pioneered the 'work, live & play' culture with its integrated facilities and hi-tech infrastructure, to add value for customers and also become a role model for other IT Parks in the country. Around 40 percent of the Park's development has been completed with a built-up area of 1.6 million sq. ft. today. Our master plan envisages development of five million sq ft. of built-up area in the next 8-10 years."

(CyberMedia News Service)