Global Investment Company Temasek and Singapore’s Ascendas-Singbridge are looking forward to investing Rs. 2000 crore in India’s industrial real estate and logistics sector.
It is interesting to note that Ascendas-Singbridge has launched an “Ascendas India Logistics Programme” which has Temasek as its principal investor.
Speaking of the latest development, Ascendas said in its official statement,
Temasek and Ascendas-Singbridge Group have jointly committed Rs 20 billion (approx Singapore dollar 400 million) to invest in logistics and industrial real estate in key locations in India.
The investment strategy for the programme will be executed by “Ascendas-Firstspace” which is a platform established by Ascendas-Singbridge and Firstspace Realty in 2017.
Interestingly, India’s industrial and logistics real estate sector has been gaining huge investments in past few years backed by growing e-commerce business. Moreover, the new GST Regime has also given a push to the real estate segment.
Temasek India MD, Promeet Ghosh said,
The logistics and industrial sector is a good proxy to growing middle-income populations and transforming economies. The positive momentum of the sector, underpinned by the Indian governments Make in India vision as well as healthy consumption trends, present opportunities for us to further invest in India’s continued growth.
The program will aim to tap growth in the Indian logistics sector while investing in projects in key warehousing firms such as Mumbai, National Capital Region, Pune, Chennai, Bangalore, and Ahmedabad, among others. The target within the programme is to build a portfolio of 13 to 15 million sq. ft space.