Singapore's GIC acquires 16-acre site in India

This is in partnership with Ascendas-Singbridge.

Singapore's sovereign wealth fund GIC and Ascendas-Singbridge Group announced their acquisition of a 16-acre land parcel in Pune, India.

According to the group, this is the second investment under the Ascendas India Growth Programme (“AIGP”), in which GIC is a principal investor along with Ascendas-Singbridge. Established in 2013, AIGP has a target asset size of $600m. Its first investment was in the International Tech Park Gurgaon.

The land parcel is located in Kharadi, the prime suburban business district of Pune. It is close to social infrastructure such as residential developments, hotels, business parks, malls, educational and medical institutions.

With a total development potential of 2.2 million sq ft, the land parcel will be developed into an IT and IT Special Economic Zone park with supporting amenities, a trademark of Ascendas-Singbridge’s IT parks in India. The first phase will offer approximately 1 million sq ft of space, and is scheduled to be completed by early 2020 to the advantage of occupiers.

Also Read

Singapore strikes a balance in logistics supply per capita, trade: report

SGX RegCo confirms ESR Group Limited's eligibility to vote on Sabana REIT trust deed amendments

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit