Ascendas-Singbridge JV to invest $500m in warehouse facility

Ascendas-Singbridge Group, jointly owned Temasek Holdings and JTC Corp., and Firstspace Realty have agreed to form a joint venture platform to develop logistics and industrial facilities across major warehousing and manufacturing hubs in India, according to The Financial Express.

The joint venture will invest $500 million to $600 million to develop these facilities during the next five years through a mixture of debt and equity. The logistics facilities are expected to total more than 14 million square feet.

Recently, Ascendas-Singbridge Group and Temasek Holdings Pvt. Ltd. jointly committed to invest around $300 million in logistics and industrial real estate projects in India through Ascendas India Logistics Program.