A partnership of three companies have invested $1 billion in India to create a digital infrastructure platform.
With a sum of C$69 billion, Ivanhoe Cambridge is an international real estate developer. Located in Montreal, it is the Canadian subsidiary of Caisse de depot et placement du Quebec . Lodha is a Singapore-based property developer that’s valued at C$1.5 billion.
The two companies said in a joint release this Friday that they will share the ownership of the property, with Lodha taking responsibility for its development and management.
An influx in investments of $1 billion will create 30 million square feet of operating assets to serve a digital economy in India.
Leaders of the partnership have announced their intent to develop a 110-acre industrial development in Mumbai
Chanakya Chakravarti, an India-based Vice President and Managing Director at Ivanhoe Cambridge, said that the expansion of the Canadian company’s logistics portfolio in India reflects their high conviction thesis well supported by strong sector fundamentals. As India enters a digital super-cycle, their investment thesis is well founded.”