As one of Asia’s economic powerhouses, India is the ninth largest economy in the world. Ascendas invests in business space and integrated development projects in India through two private equity funds, Ascendas India Development Trust (AIDT) and Ascendas India Growth Programme (AIGP).
AIDT is an India-specific private real estate fund set up in 2007 to undertake mixed/multi-use development projects in high-growth sectors in India. AIDT is currently invested in two SEZ projects in Gurgaon, one SEZ project in Coimbatore and one Industrial/Mixed-use Park in Chennai.
AIGP was launched in 2013 with GIC as the principal investor. AIGP's strategy is to invest in greenfield and brownfield developments in India including their complementary uses such as residential, retail and hospitality. AIGP targets investments in the Tier 1 cities of Bangalore, Chennai, Delhi National Capital Region, Hyderabad, Mumbai and Pune.