Temasek, Ascendas-Singbridge to invest $300m in logistics, industrial projects in India

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

The platform will invest in projects in key Indian warehousing and manufacturing hubs including Mumbai, National Capital Region, Pune, Chennai, Bangalore and Ahmedabad. It aims to develop a portfolio of 13 million square feet to 15 million square feet of space.

The venture has two seed assets with 1.25 million square feet of operational space and more than 4 million square feet in development potential.