Singapore’s Ascendas, GIC to invest in India property – Reuters

Reuters – Singapore warehouse and industrial park developer Ascendas Pte Ltd said on Tuesday it has set up a programme with a target asset size of S$600 million ($481.60 million) to invest in Indian real estate, focusing on business space.

Singapore sovereign wealth fund GIC Pte Ltd is a principal investor in the programme.

Ascendas’ current India funds include Singapore-listed Ascendas India Trust and Ascendas India Development Trust, a private equity fund that is fully invested.

($1 = 1.2458 Singapore dollars)

(Reporting by Kevin Lim)