Ascendas acquires business park in Pudong

By Cherry Cao | February 13, 2015, Friday |

Online Edition

ASCENDAS, Asia's leading provider of business space solutions, has acquired a business park project in Pudong New Area through its private real estate fund as the Singapore-based company further extends its presence in China.

The campus-style development, renamed as Ascendas Lotus Business Park, is located in Zhangjiang High-tech Park and occupies a gross floor area of more than 700,000 square meters, according to a statement released yesterday by the company.

"We are excited about our new business park project in Shanghai," Manohar Khiatani, president and group CEO of Ascendas. "This helps extend our presence in China and further deepen our commitment in providing world-class and differentiating infrastructure solutions and conducive environment to our customers that Ascendas is renowned for."

As planned, the Ascendas Lotus Business Park will be transformed into an integrated business space that blends in with the innovative entrepreneurship characteristic of Zhangjiang, one of China’s first batch state-level high-tech parks approved by the State Council which is now home to over 10,000 companies involved in industries including IT & software, bio-tech & pharmaceutical, creative and low-carbon, etc.

Currently in China, Ascendas' operations span eight cities covering Shanghai, Suzhou, Beijing, Dalian, Xi’an, Tianjin, Hangzhou and Guangzhou.

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Ascendas acquires business park in Pudong

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