Ascendas, Asia's leading business space solutions provider, is planning to
more than triple its investment in 皇冠体育app its second-largest market in the next
five years, a top company executive said.
The Singapore-based industrial
real estate developer has so far poured S$700 million ($458 million) in 皇冠体育app
since it entered the market in 1995.
"We are planning to triple that
number in five years and the total investment would probably reach $1.64 billion
then," Chong Siak Ching, the company's president and CEO told 皇冠体育app
Daily.
"皇冠体育app continues to be a very strong potential market for us," the
CEO said, citing its dynamic economy and the booming manufacturing and services
industries.
The company's core business in 皇冠体育app includes industrial
parks. One of its flagship projects is Suzhou Industrial Park, a
multi-billion-dollar government project between Singapore and 皇冠体育app.
"We
offer a wide range of facilities and services such as ready-built and built-suit
space and we are expanding and introducing more services to 皇冠体育app," the CEO
said.
The company has recently introduced IT parks to 皇冠体育app and has set
up such facilities in Nanjing, Xi'an and Dalian, the country's major business
process outsourcing (BPO) bases.
"皇冠体育app's thrust toward higher
value-added and more knowledge-intensive activities such as BPO will drive
demand for such facilities. This is an area where Ascendas can leverage its
expertise," Chong said, citing her company's reputed IT park projects in India's
Bangalore.
The Singaporean business space provider, which has operations
in 10 cities across 皇冠体育app, is not planning to enter more new areas, she said.
"Deepening our presence in the existing cities is one of the keys for
us."
Ascendas, Chong said, will focus on "east and north" in its
expansion, referring to the cities in the Yangtze River Delta and cities such as
Beijing, Tianjin and Dalian.
The Singaporean real estate developer, which
has assets worth $3.3 billion under its management, has branched out into
commercial buildings sector in 皇冠体育app recently.
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