+
GIC, ESR Cayman enter $ 750 mn JV
Real Estate

GIC, ESR Cayman enter $ 750 mn JV

ESR Cayman and Singapore’s sovereign wealth fund GIC recently entered into an 80:20 strategic partnership for a joint venture worth $750 million for the development and acquisition of logistics and industrial assets in India.

The joint venture will focus on Tier 1 and Tier 2 cities across the country to develop and acquire logistics and industrial facilities. In the first place, the joint endeavour will begin with about 2.2 million sq ft build-to-core asset situated near the large consumption centres of Thane and Mumbai.

The Chief Investment Officer (real estate) of GIC, Lee Kok Sun, commented that this venture was a demonstration of their trust and confidence in the long-term potential of that market. Kishore Gotety, co-head of real estate in GIC (Asia ex-China) stated that the relentless growth of the e-commerce development in India fortified by the increasing internet infiltration was expected to drive solid interest for logistics and industrial assets. Changing supply chain, low-vacancy levels and emphasis on infrastructure development had further supported their claims. The joint-venture was well-situated to profit by the tailwinds.

ESR India’s country heads, Jai Mirpuri and Abhijit Malkani stated that the strategic partnership provided the organisation with prompt scale to underwrite India’s modernising logistics and industrial landscape. They also added that they wanted to tap these high growth potentials and further expand their portfolio.

As of 30 June 2020, the fair value of the properties and the investments directly held by the ESR and the assets that were being managed with respect to the investments and funds vehicle was recorded at approx $26.5 billion. The GFA (gross floor area) of the properties that were under development and the properties that were completed, along with the land held for future projects contained 18.7 million sq mt, in total.

Image Source

ESR Cayman and Singapore’s sovereign wealth fund GIC recently entered into an 80:20 strategic partnership for a joint venture worth $750 million for the development and acquisition of logistics and industrial assets in India. The joint venture will focus on Tier 1 and Tier 2 cities across the country to develop and acquire logistics and industrial facilities. In the first place, the joint endeavour will begin with about 2.2 million sq ft build-to-core asset situated near the large consumption centres of Thane and Mumbai. The Chief Investment Officer (real estate) of GIC, Lee Kok Sun, commented that this venture was a demonstration of their trust and confidence in the long-term potential of that market. Kishore Gotety, co-head of real estate in GIC (Asia ex-China) stated that the relentless growth of the e-commerce development in India fortified by the increasing internet infiltration was expected to drive solid interest for logistics and industrial assets. Changing supply chain, low-vacancy levels and emphasis on infrastructure development had further supported their claims. The joint-venture was well-situated to profit by the tailwinds. ESR India’s country heads, Jai Mirpuri and Abhijit Malkani stated that the strategic partnership provided the organisation with prompt scale to underwrite India’s modernising logistics and industrial landscape. They also added that they wanted to tap these high growth potentials and further expand their portfolio. As of 30 June 2020, the fair value of the properties and the investments directly held by the ESR and the assets that were being managed with respect to the investments and funds vehicle was recorded at approx $26.5 billion. The GFA (gross floor area) of the properties that were under development and the properties that were completed, along with the land held for future projects contained 18.7 million sq mt, in total. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code