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GIC, Hong-Kong-based ESR form JV to invest $750 mn in Indian realty

Singaporean sovereign wealth fund GIC on Tuesday announced a joint venture with the Hong Kong-headquartered ESR Cayman to form a USD 750 million joint venture which will develop and acquire industrial and logistics assets in India. GIC will be owning 80 per cent stake in the joint venture, while ESR will own the remaining 20 per cent, an official statement said, adding the platform will focus on tier-I and tier-II cities across India where it will develop and own institutional-grade, industrial and logistics facilities. It will be seeded with a 2.2 million sq ft build-to-core asset, located in close proximity to the large consumption hubs of Mumbai and Thane, it added.

GIC, ESR Launch $750M India Logistics JV

Mingtiandi Username ESR Lodha Industrial & Logistics Park in Mumbai Singaporean sovereign fund GIC and Hong Kong-listed developer ESR are pursuing their mutual interest in India’s industrial real estate market this time together with the launch of a $750 million joint venture to build and acquire industrial and logistics assets in the country. GIC will hold an 80 percent stake and ESR the remaining 20 percent in the JV, which remains subject to regulatory approvals, according to a joint press release issued Tuesday. The aim is to develop and own institutional-grade industrial facilities across India, while also acquiring core assets in tier one and tier two cities.

Rangers vice-chairman John Bennett makes Ibrox share offer to Club 1872 after Dave King deal

Ibrox JOHN BENNETT has opened the door for Club 1872 to invest directly into Rangers as the fan organisation look to strike a deal for Dave King s major shareholding at Ibrox. The former Gers chairman has agreed to sell his stake in RIFC plc to Club 1872 for £13million if members can raise the required funds over the next three years. Some fans have been wary about their money going to King rather being put into Rangers as Club 1872 look to move beyond the 25 per cent threshold in the coming seasons. And vice-chairman Bennett has urged the group to put their cash directly into their club as fund-raising efforts continue at Ibrox.

ESR Unveils Plans for Drone Logistics at Tokyo Area Project

Mingtiandi Username VRCO’s NeoXCraft concept for an electric VTOL vehicle Logistics real estate specialist ESR is getting ready for the future of high speed delivery with an initiative to design and demonstrate the world’s first cargo drone facility at Tokyo area warehouse project. The Hong Kong-listed warehouse developer and fund manager announced late last week that it has begun working with UK drone development startup VRCO to establish the tech program as a way to explore building a fleet of automated drones to accelerate and streamline delivery of cargo by air. “The ability to move high value, time sensitive cargo directly from our distribution centre to its destination presents a significant value proposition for ESR’s tenants and operators,” ESR co-founder and co-chief executive Stuart Gibson said in a statement.

Hong Kong-listed logistics firm ESR Cayman to launch world s first cargo drone facility in Japan

Hong Kong-listed logistics firm ESR Cayman to launch world s first cargo drone facility in Japan
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