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Business park deal deepens presence
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ASCENDAS, Asia’s leading provider of business space solutions, has acquired a business park project in Shanghai through its private real estate fund as the Singapore-based company further extends its presence in China.
Covering a gross floor area of more than 700,000 square meters, the campus-style development, renamed as Ascendas Lotus Business Park, is located in Zhangjiang High-tech Park in Pudong, said a statement released by the company.
“This (business park) helps extend our presence in China and further deepen our commitment in providing world-class and differentiating infrastructure solutions and a conducive environment to our customers,” Manohar Khiatani, president and group CEO of Ascendas, said.
The Ascendas Lotus Business Park will be transformed into an integrated business space that blends in with the innovative entrepreneurship character of Zhangjiang, one of China’s first batch of high-tech parks approved by the State Council.
The Zhangjiang park is currently home to over 10,000 companies involved in information technology and software, bio-tech and pharmaceutical as well as creative and low-carbon industries.
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