Ascendas to Spend $375 Million in India Property

An India fund run by Singapore-based industrial property developer Ascendas said on Wednesday it would invest about $375 million to develop an economic zone and residential and commercial space.

The investment would be in a joint venture near India’s capital, New Delhi.Dr Fresh, a company owned by Dr. Fresh Inc of the United States and the founders of India’s Dabur Group would be partner Ascendas in the project, in which the Singaporean firm would hold 51 percent, Ascendas said in a statement.

When completed, the special economic zone will have more than 4.27 million square feet of space for information technology firms, and 2.6 million square feet for residential and commercial projects, Ascendas said.

News Published Under:   Real Estate India |

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