Ascendas-Singbridge and GIC acquire 16-acre site in Kharadi, Pune

ASCENDAS-Singbridge Group and GIC, Singapore's sovereign wealth fund, have acquired a 16-acre (about 6.5 hectares) land parcel in Pune, India from the Kohinoor Group.

"This latest acquisition under the AIGP is in line with plans by Ascendas-Singbridge and GIC to grow their portfolio and deepen their presence in India,'' the two said in a joint release on Wednesday.

GIC is a principal investor along with Ascendas-Singbridge in AIGP, or Ascendas India Growth Programme. The latter was established in 2013, and has a target asset size of S$600 million. Its first investment was in the International Tech Park Gurgaon.