Ascendas to hike India corpus
Ascendas, one of the biggest developers and managers of commercial properties in southeast Asia, is planning to increase the size of its India-focussed $355 million fund — Ascendas India Development Trust (AIDT) — which will invest in properties in Tier-II cities and expand its presence in bigger cities.
Though the quantum of the rise is not known, the fund has a target asset size of $710 million. The fund was launched in June 2007 and has already invested in realty projects in Gurgaon and Coimbatore.
In April this year, AIDT entered into a joint venture with IREO, a leading foreign investor.
The JV would develop an integrated project, comprising an IT special economic zone and mixed-use development facility in Coimbatore.
More : business-standard.com