Indian Logistics Realty: Singapore GIC and ESR Cayman to Establish $750 Million Joint Venture

GIC and ESR Cayman to invest $750 Million Joint Venture

Under a new joint venture, Singapore’s sovereign wealth fund GIC and ESR Cayman have entered into an 80:20 strategic partnership to invest $750 million to develop and obtain industrial and logistics assets in India. The companies said in the release shared with SURFACES REPORTER (SR) that this joint venture will develop and own institutional-grade, state-of-the-art industrial and logistics facilities as well as acquire core assets, focusing on tier 1 and tier 2 cities across India.

To start with, the companies will build 2.2 million sq ft build-to-core assets, nearby Mumbai and Thane.

Lee Kok Sun, Chief Investment Officer of Real Estate, GIC said, “GIC has been investing in India for more than a decade, and this investment is a testament to our confidence in the long-term potential of this market.”

The industrial and logistics segment is one of the key growth drivers of the country’s real estate sector. 

The rising demand for e-commerce, rapid adoption of omnichannel distribution models by companies during this COVID, and altering consumer consumption has further pushed the demand for logistics and warehousing across the nation. The low vacancy levels and changing supply chains and infrastructure development will further spark this demand.

Talking about the collaboration, Abhijit Malkani and Jai Mirpuri, Country Heads, ESR India, shared, “This strategic partnership provides us with immediate scale to capitalise on the early growth stages of India’s rapidly modernising industrial and logistics landscape and tap high growth potential opportunities and further expand our industrial and logistics portfolio.”

ESR is a chief Asia-Pacific logistics (APAC) real estate firm that has approximately $26.5 billion of assets under management. The company’s GFA of completed properties is10 million sq ft, spreading across eight cities while over 35 million sq ft area covers the ongoing and planned development.

Text and Image Courtesy: SAV Architecture + Design

Keep reading SURFACES REPORTER for more such articles and stories.

Join us in SOCIAL MEDIA to stay updated

SR FACEBOOK | SR LINKEDIN | SR INSTAGRAM | SR YOUTUBE

Further, Subscribe to our magazine Sign Up for the FREE Surfaces Reporter Magazine Newsletter

You may also like to read about:

Indian Logistics Realty: Singapore GIC and ESR Cayman to Establish $750 Million Joint Venture

DLF To Invest Rs 130 crore To Build Data Center in Noida | SR Bulletin

3 Bathroom Trends for 2021 | Surfaces Reporter

10 Products and Designs that Use the Pantone Colour of the year 2021

Honeywell and Signify Join Hands to Deploy Integrated Smart Lighting Solutions For Commercial Buildings

and more...

×
×

Post Your Comment


"Content that powers your Business. News that keeps you informed."

Surfaces Reporter is one of India's leading media in Print & Digital Telecast for News on Interiors & Architecture Projects, Products, Building Materials, and the Business of Design! Since 2011, it serves as a referral for designers & architects to know about inspiring projects and source new products. If you have a Product or Project worth publishing in Surfaces Reporter, please email us hello@surfacesreporter.com or you can also submit your project online.

Like Surfaces Reporter on Facebook | Follow us on Twitter and Instagram | Subscribe to our magazine | Sign Up for the FREE Surfaces Reporter Magazine Newsletter



This is alt