Singaporean urban development solutions provider Ascendas-Singbridge Group, via its logistics and warehousing joint venture with Indian real estate developer Firstspace Realty, has bought two assets in Chennai, India.
The total investment in the two assets is approximately $120 to $130 million.
The two assets include a greenfield project, an over 120-acre industrial park at Periyapalayam, of which 1.2 million square feet has already been developed and a piece of land in Oragadam, Chennai, for an industrial and logistics park of 2.8 million square feet.
Earlier this year, Ascendas-Singbridge announced that along with Singaporean investment holding company Temasek, it will jointly invest about $300 million in logistics and industrial real estate projects.