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Jan, 11 2019

Ascendas-Singbridge eyes doubling commercial office portfolio

The group has developed 11 to 12 parks in the country so far.

As part of its portfolio expansion plan, Singapore-based Ascendas-Singbridge group is on the lookout to acquire greenfield land in India. The company, which has built about 16 million square feet, is planning to double developmental activities in the next three to four years.

The group has developed 11 to 12 parks in the country so far.

Vinamra Srivastava, CEO, India operations and private funds, Ascendas-Singbridge, said, "Being an end-to-end real estate player, we are in the process of doubling our commercial office portfolio to about 30 million sq ft in the next three to four years across six cities in the country."

"We have developed 11 to 12 parks in India. With this expertise, we are on the lookout to buy greenfield land in attractive locations. Besides, we are planning to buy operating parks which are income-generating assets," he further stated.

Srivastava added, "Plans are there on the cards to invest in a mix of land and ready properties as well. Since there is less liquidity in the market, we will buy assets provided prices soften."

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