Singapore’s GIC and ESR Form $600 Million Indian JV to Target Industrial and Logistics Assets
Posted on 11/03/2022
Singapore’s GIC Private Limited and real estate fund manager ESR Group formed a US$ 600 million joint venture to acquire industrial and logistics assets in India. The new joint venture, in which GIC is an 80% owner, is an extension of an existing partnership between the entities in India. ESR Group will own the other 20%. The JV will invest in “stabilised operational assets” in tier 1 and tier 2 cities in India.
“India is at the cusp of a supply chain transformation supported by automation, digitisation, and favourable government policies,” ESR India Chief Executive Officer Abhijit Malkani said in a statement.
Keywords: ESR India Investment Holdings Pte. Ltd., E-Shang Redwood Group.
