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Ascendas-Singbridge partners Firstspace to target India's industrial, logistics sector

ASCENDAS-SINGBRIDGE Group said on Thursday it is partnering Indian industrial real estate specialist Firstspace Realty to build logistics and industrial facilities in major warehousing and manufacturing hubs across India.

The Ascendas-Firstspace platform is a joint venture formed by the two parties to meet the infrastructure needs of businesses in India tapping high-growth industrial verticals such as third party logistics, e-commerce, automobiles, fast-moving consumer goods, modern retail and manufacturing.

Miguel Ko, Ascendas-Singbridge Group chief, said: "We have been in India for over two decades, developing iconic business and IT Parks. Entering the industrial and logistics sector is a natural progression, and we expect to meet the growing demand for quality manufacturing and logistics space.

"We have assembled an entrepreneurial team to lead the way, who will be supported by our experienced India and global operations."