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Ascendas Park Square Opens at International Tech Park Bangalore (ITPB)

12-23-2011 04:35 AM CET | Fashion, Lifestyle, Trends

Press release from: Ascendas

/ PR Agency: Hanmer MSL
Ascendas Park Square Mall launch

Ascendas Park Square Mall launch

Ascendas Services (India) Pvt Ltd today held the official opening ceremony of the Ascendas Park Square Mall located in International Tech Park Bangalore (“ITPB”).
The official opening of Ascendas Park Square was marked by the inauguration ceremony graced by Ms. Karen Tan, High Commissioner of the Republic of Singapore. The celebrations will extend through the upcoming holiday season, featuring month-long festivities in the mall including concerts and weekend events.
Ascendas Park Square features over 140 stores spread over 5 storeys with a diverse retail mix. Tenants include a 4-screen multiplex from ‘Q’ Cinemas, popular departmental store ‘Reliance Trends’, Reliance Hypermarket, a gaming zone by ‘Amoeba’ boasting of 24 bowling lanes, South India’s biggest bowling alley, large format books & music retailer ‘Reliance Timeout’, a 500-seat capacity food court serving Indian & international cuisines with an alfresco dining area, fashion retailers, pubs, fine dining and many more.
The mall will have multiple entry points for external visitors from the main road, and a link bridge connecting the mall to the rest of ITPB through a stringent security clearance, giving exclusive access to only employees working at the park.
Located at the entrance of ITPB and adjacent to the hotel, Ascendas Park Square will cater to over 27,000 employees working at the park, and to the population that live or work in close proximity to ITPB. The population of ITPB is set to grow in the future as a-iTrust progressively develop the remaining vacant land available at the park, which represents a total development potential of 2.5 million sq ft of space. This is in addition to the existing operating space in ITPB, which currently stands at 2.8 million sq ft (including Park Square).

The 450,000-sq ft retail mall is the latest enhancement to ITPB, an integrated park in Whitefield, Bangalore, offering international-class office buildings and host of amenities, including a 5-Star business hotel, Vivanta by Taj. ITPB is owned jointly by Singapore-listed Ascendas India Trust (“a-iTrust”) and Karnataka Industrial Areas Development Board .
Ms. Karen Tan, High Commissioner of the Republic of Singapore, said, “The ITPB exemplifies Singapore’s successful partnership with India and showcases the commitment and accomplishments of a Singapore company, Ascendas, in India. I am glad to see how Ascendas has enhanced the value-add and lifestyle elements of the ITPB through innovative developments such as Ascendas Park Square.”
Mr. Thomas Teo, CEO of Ascendas Services (India) Pvt Ltd, added, “With Ascendas Park Square, ITPB has evolved into a truly integrated environment that seamlessly amalgamates office, hospitality, retail and entertainment to create a vibrant, lively community. With more than 50% of the space dedicated to fun, entertainment, fine dining, pubs and cafes, Ascendas Park Square is poised as the lifestyle and entertainment space to be in Whitefield.”

Ascendas in Asia (www.ascendas.com)
Ascendas is Asia’s leading provider of business space solutions with key markets in Singapore, China, India, South Korea and the Philippines. Based in Singapore, Ascendas has built a strong regional presence and serves a global clientele of over 2,000 customers.
Ascendas specializes in developing, managing and marketing IT parks, industrial & logistics parks, business parks, science parks, hi-tech facilities, office and retail space. Its flagships include the Singapore Science Park, International Tech Park Bangalore in India, Dalian-Ascendas IT Park in China and Carmelray Industrial Park II in the Philippines. Ascendas provides end-to-end real estate solutions, assisting corporate customers through the entire real estate process.
In November 2002, Ascendas launched Singapore’s first business space trust, the Ascendas Real Estate Investment Trust (A-REIT). In August 2007, the Ascendas India Trust (a-iTrust) was launched as Asia’s first listed Indian property trust. Ascendas also demonstrated its strength in real estate fund management with a series of private real estate funds established across Asia.
Ascendas in India:
Ascendas India, the sub-continental arm of Ascendas Pte Ltd develops IT Parks/SEZs, Build-to-Suit and Ready-Built Facilities. Starting with the landmark International Tech Park Bangalore (ITPB), Ascendas has since followed on its success with CyberPearl and The V in Hyderabad, International Tech Park Chennai (ITPC) and CyberVale, an IT Park within Mahindra World City in Chennai.
Ascendas is now developing an International Tech Park in Pune (ITPP). In addition to IT Parks, Ascendas is also developing integrated projects with sector specific SEZs, commercial, residential and supporting social amenities in Gurgaon and Coimbatore.

Subhasish Mohanty
Hanmer MSL
E-mail: subhasish.mohanty@hanmermsl.com
No.12, Narayan Reddy Colony,
Annaswamy Muddliar Road
Near Ulsoor Lake
Bangalore - 560 042

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