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Singapore’s Ascendas fund in $290 mln India JV

Singapore-based industrial property developer Ascendas said on Wednesday that its private property fund Ascendas India Development Trust has entered a joint venture to develop a $290 million project.

The 50-50 joint venture with India real estate fund IREO will develop an IT Special Economic Zone and a mixed-use development totaling 53 acres in Coimbatore in the state of Tamil Nadu, the unlisted developer said in a statement.

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