Vinamra Srivastava, Ascendas-Singbridge Pte. Ltd.'s CEO for India operations, told Mint (New Delhi) that the company is planning to double its commercial office portfolio and bring its thebridge co-working brand as part of its diversification strategy in the country.
The Singapore-based investor intends to add between 14 million square feet and 15 million square feet to its Indian office portfolio, which spans 16 million square feet across information technology parks in six cities. It plans to carry out the strategy by acquiring fresh land and greenfield projects and purchasing ready-assets off-market, according to the publication.
Additionally, Ascendas-Singbridbge plans to expand thebridge brand by setting up a location in India. The co-working spaces brand of the company, which was launched in Singapore in 2017, also has operations in Shanghai, and Hangzhou in China, the Dec. 14 report added.