VEGA The 'V' IT PARK

Ascendas, a Singapore-based business space provider, on Tuesday opened its fifth and last building in its 19-acre IT park, ‘The V’, which was initially promoted by Vanenburg IT Park.

Minister for Major Industries J. Geeta Reddy inaugurated the building. The fifth phase, christened as ‘Vega’, has 4.02 lakh sq. ft. of space to accommodate 3,000 employees. It has a six-storeyed parking. President and CEO of Ascendas Chong Siak Ching said that 92 per cent of the space in Vega was already occupied. ‘The V’ had 1.3 million sq. ft. area accommodating 10,000 skilled IT & ITeS professionals.

The Vega was named after constellation of stars, while its earlier siblings were named ‘Auriga’, ‘Mariner’, Capella’ and ‘Orion’.

She said that Ascendas was managing 1.8 million sq. ft of space in the city, including the Cyber Pearl. The two IT parks together were valued at 290 million Singapore dollars and occupied 31 per cent of total assets managed by Ascendas. The company was also managing IT parks in Pune, Chennai, Nagpur, Bangalore and Hyderabad.

The company was also developing two IT special economic zones – one in Gurgaon and the other in Coimbatore. She said that the company was exploring opportunities to increase its presence in the State.

Acting Minister for Manpower in Government of Singapore Gan Kim Yong was also present.