Indians arrived to Indjija - 'Embassy Group' Started Construction of 600 million USD Worth IT Park

Source: eKapija Thursday, 19.04.2012. 13:34
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Indian company ' Embassy Group "started on April, 19, 2012, construction of IT park area of ​​25,000 m2, in Indjija. This will be the first phase of the complex in which there will be global and domestic companies from the IT industry, and it is expected to employ 2,500 people.

As announced at the press conference at the "Hyatt", on April, 18, 2012, by the representatives of ‘Embassy Group’, it is a matter of an investment of 40 million USD, which will, after completion of the complex of 250,000 m2, reach 600 million USD.

- The entire IT park could be finished in five years. Now, we are focusing on the first phase, which will be funded out of our funds, and later we will develop the complex in accordance with demand. Based on our extensive experience in India, we are convinced that this business park, the first of its kind in Serbia, will provide an environment where large international companies will be able to position their center of knowledge for the mutual benefit of industry, as well as local experts - said Jitu Virwani, President and CEO, "Embassy Group".

Representatives of Indian company have pointed out that this is a different concept when it comes to real estate market in Serbia.

- Construction will be carried out in accordance with one of the most advanced international standards in this area - LEED Gold Green Building Certification. The project involves the construction of office space of A class, placed into four business building areas of ​​25,000 m2. Lessees of premises will worry only about their business while there will be service provided 24 hours a day in the week - said Goran Gencic, Marketing Manager of "Embassy Techzones" Belgrade.

(Jitu Virwani, Jasna Matic and Bozidar Laganin)

Genčić noted that within the complex there will be accommodated a kindergarten, a university campus, a hotel, "lifestyle" center, residential facilities, cafeterias and restaurants, as well as a fitness center.

Indian corporations "Embassy" is known for a series of IT Parks, which were implemented throughout India and Malaysia, and even eight years ago the company had decided to build t the first IT park outside of Asia, here in Indjija.

- So far we have no plan to appear in other markets in Europe. In Serbia, we will continue to invest in other real estate sectors due to the fact that 85% of our business is based in that area - said Virwani and pointed out that on the project in Indjija, they had excellent cooperation with local governments and state agencies.

Earlier it was announced that in the information-technology park in Indjija there woul be placed some of multinational corporations like IBM, "Microsoft", "Hewlett Packard", "Mercedes-Benz", "Vodafone", "Yahoo" and many others, given that these companies are already part of other IT parks of the Indian company.

As Ramgopal Narayanan from the company "Embassy Techzones" said for ‘e-Kapija’, the construction should take about 15 months, so the first phase is expected to be fully completed in the second quarter of 2013.

He could not specify how many companies will lease space in IT Park Indjija because that number depends on the surface area that companies are seeking.

Secretary of State for the digital agenda of the Ministry of Culture, Information and Information Society, Jasna Matic, estimated that the IT park in Indjija was a good opportunity for young professionals to find high quality and well-paid jobs in the country.

- This complex will certainly improve the offer of our country and our attractiveness as a business destination for companies who felt that the cost of establishing a business in Serbia was rather high, and now they will be attracted by this project because the cost will now be significantly smaller, - said Matic for " eKapija ", but she could not specify which new IT companies will come to our market.

Director of the Agency for Foreign Investment and Export Promotion Agency of Serbia (SIEPA), Bozidar Laganin, said that in 1600 IT companies in Serbia, there were about 14,000 people permanently employed and that with building the IT park in Indjija, there were new opportunities for development for them too.

"Embassy Group" has dealt with investments in real estate since 1985, and so far it has built about 2.8 million square meters of first-class commercial, residential and wholesale space in India and Malaysia.

Projects of commercial buildings include development of business parks for IT sector, special economic zone and corporate office space.

S.O.

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