Singapore Developer Inks $482M Commercial RE Deal In India

Law360, New York (November 19, 2013, 1:42 PM EST) -- Singapore real estate developer Ascendas Pte Ltd. will buy SG$600 million (US$482 million) worth of commercial real estate in India, with GIC Private Ltd., Singapore's sovereign wealth fund, as a principal investor, the company said Tuesday.

The company's India Growth Programme will buy assets in the dense areas of Bangalore, Chennai, Delhi National Capital Region, Hyderabad, Mumbai and Pune. GIC, which opened up its first India office in 2011, said that it believes that India has a high growth potential, especially in real estate.

"The program...
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