bengaluru marquee global investors gic of singapore temasekowned mapletree and blackstone group among others are vying to acquire one of the oldest technology office zones located in bengaluru ibc knowledge park for over rs 2300 crore people directly aware of the matter said india builders corp or ibc a legacy office space developer in southern india is selling a 22millionsqft office asset which counts accenture ibm byjus and swiggy as tenants global investors chasing stable yields in office real estate have limited assets of scale in asias thirdlargest economy driven by a strong services sector indias technology capital bengaluru is the largest gradea office market by annual absorption and currently has record low vacancies xander group and singapores ascendas are the other investors evaluating a bid which is expected by midseptember the park reported a net operating income of rs 170 crore from the fully leased 17millionsqft while another 05millionsqft development potential is offered as part of the dealgic is likely to partner with k raheja corp and blackstone may look at the asset along with embassy group international property consultant jll is running the sale process when contacted jll declined to commentibc knowledge park located on 13 acres near dairy circle is one of the few large office parks to go on sale in bengaluru which is expected to report around 1314millionsqft leading activity this year the overall india office leasing activity is likely to cross 40 million sqft closing the gap with chinas 50 million sqft the office park set up in 2004 was initially a joint venture between ibc and century group after a prolonged shareholder dispute ibc bought centurys stake in knowledge park some two years ago