Singapore’s GIC, India’s ESR Group set up $600 mn JV
WAREHOUSING & LOGISTICS

Singapore’s GIC, India’s ESR Group set up $600 mn JV

Singapore's sovereign wealth fund GIC and real estate investment manager ESR Group have set up a $600 million joint venture to buy profit-making industrial and logistics assets in India, they said in a joint statement last week.

The new JV, in which GIC is an 80% owner, is an extension of an existing partnership between the entities in India. It will invest in “stabilised operational assets” in tier 1 and tier 2 cities of the country.

A host of Indian corporations, including logistics firm Blue Dart Express and staffing solutions provider Quess, have been expanding in metros as well as smaller cities to tap into the demand for online shopping.

GIC and ESR expect industrial and logistics assets to outperform other real estate and infrastructure assets in the medium term on the back of the surge in online shopping as well as store purchases.

“India is at the cusp of a supply chain transformation supported by automation, digitisation, and favourable government policies,” ESR India chief executive officer Abhijit Malkani said in the statement.

See also:
Warehousing demand to hit all-time high by year-end: experts
Actis, Mahindra Lifespaces tie-up for logistics realty


Singapore's sovereign wealth fund GIC and real estate investment manager ESR Group have set up a $600 million joint venture to buy profit-making industrial and logistics assets in India, they said in a joint statement last week. The new JV, in which GIC is an 80% owner, is an extension of an existing partnership between the entities in India. It will invest in “stabilised operational assets” in tier 1 and tier 2 cities of the country. A host of Indian corporations, including logistics firm Blue Dart Express and staffing solutions provider Quess, have been expanding in metros as well as smaller cities to tap into the demand for online shopping. GIC and ESR expect industrial and logistics assets to outperform other real estate and infrastructure assets in the medium term on the back of the surge in online shopping as well as store purchases. “India is at the cusp of a supply chain transformation supported by automation, digitisation, and favourable government policies,” ESR India chief executive officer Abhijit Malkani said in the statement. See also: Warehousing demand to hit all-time high by year-end: expertsActis, Mahindra Lifespaces tie-up for logistics realty

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?