Singapore-based Ascendas-Singbridge Group, through its logistics and warehousing joint venture with Firstspace Realty, has acquired two assets in Chennai amid a boom in India’s industrial real estate.
The two assets include a greenfield project—a piece of land in Oragadam, Chennai, for an industrial and logistics park of 2.8 million sq. ft and an over 120-acre industrial park at Periyapalayam, of which 1.2 million sq. ft has already been developed. The total commitment in these two assets is estimated at $120-130 million.