Ascendas-Singbridge Appoints new Chief Executive Officer for India Operations and Private FundsAscendas Pvt Ltd (Ascendas) (6:15PM)
Business Wire India
Mr Vinamra Srivastava, Chief Executive Officer for Ascendas Singbridge, India Operations and Private Fund
Asia's leading provider of sustainable urban development and business space solutions Ascendas-Singbridge Group is pleased to announce the appointment of Mr Vinamra Srivastava as Chief Executive Officer for its India Operations and Private Funds, with effect from 1 April 2018. Mr. Vinamra Srivastava will succeed Mr. Sanjay Dutt.
Mr. Srivastava currently heads Group Corporate Strategy & Development. He joined Ascendas-Singbridge in October 2015 and during his tenure, he contributed to the successful Ascendas-Singbridge post-merger integration process. Amongst other key achievements, he also helped set up the new logistics business in India working closely with various stakeholders.
In his new role, Mr. Srivastava will lead the Group's India operations through its next phase of growth and development. He will oversee operations, business development, strategic planning and significantly contribute to expanding and enhancing the Group's portfolio of assets in the country.
"We take great pleasure in welcoming Vinamra to his new position as CEO of Ascendas-Singbridge's India operations and private funds. He has played a key leadership role to develop the India strategy for Ascendas-Singbridge and ensure consistent strategy execution across investment, development, operations and asset management. With his cross border consultancy experience and deep knowledge of Ascendas-Singbridge's strategy, we are confident that he will lead Ascendas-Singbridge's India operations and private funds to its next phase of growth," said Mr. Miguel Ko, Group Chief Executive Officer of Ascendas-Singbridge.
"Sanjay is making this move to return to his hometown in Mumbai. At Ascendas-Singbridge, we understand his desire to be close to his family and we wish him all the best in his future endeavours," added Mr. Ko.
Prior to joining Ascendas-Singbridge, Mr. Srivastava was a Principal Consultant with Roland Berger Strategy Consultants. As an ex-management consultant, he has long-standing experience across corporate strategy, investment analysis, due diligence, market entry, business planning, cost optimisation, feasibility studies, transformation plans and organisational development.
Throughout his career, Mr. Srivastava has worked across multiple industries including real estate, infrastructure, smart cities, urban & economic development, transportation and hi-tech. Working both for public and private sectors, his experience spans across not just India, but also Asia-Pacific, Europe, Middle East and Africa.
Mr. Srivastava graduated with a Bachelor of Engineering degree from the University of Pune and an MBA from the Institute of Management Ahmedabad.
Ascendas-Singbridge has over two decades of experience operating in India, under its subsidiary Ascendas. The Group is a key contributor to India's IT industry development, pioneering the renowned International Tech Park Bangalore in 1994, and continues its strong commitment to India. It currently manages over 13 million square feet of assets across Bangalore, Chennai, Hyderabad, Pune, Gurgaon and Mumbai, catering to over 300 clients providing high quality jobs to 110,000 skilled professionals.About Ascendas-Singbridge Group
Ascendas-Singbridge Group is Asia's leading sustainable urban development and business space solutions provider with Assets Under Management exceeding S$20 billion.
Jointly owned by Temasek Holdings and JTC Corporation through a 51:49 partnership, the Group undertakes urbanisation projects spanning townships, mixed-use developments and business/industrial parks. Headquartered in Singapore, Ascendas-Singbridge has projects in 28 cities across 9 countries in Asia, including Australia, China, India, Indonesia, Singapore and South Korea.
Ascendas-Singbridge holds commercial, hospitality and industrial assets across Asia Pacific. It has a substantial interest in and also manages three Singapore-listed funds under its subsidiary Ascendas, namely Ascendas Reit (a Straits Times Index component stock), Ascendas India Trust and Ascendas Hospitality Trust. Besides these listed funds, it also manages a series of private real estate funds.
In India, Ascendas-Singbridge specialises in developing, managing and marketing IT parks, industrial & logistics parks, and integrated developments. Leveraging its strong track record and best practices in the region, Ascendas-Singbridge offers a level of service and quality to its tenants which stand way above the rest.
Ascendas-Singbridge has over 13 million sq ft of assets under management in India valued at some S$2.2 billion. The portfolio includes International Tech Park Bangalore; International Tech Park Chennai and CyberVale in Chennai; CyberPearl, The V and aVance in Hyderabad; International Tech Park Gurgaon; International Tech Park Pune, Blueridge Phase II and an IT SEZ in Pune. In addition to IT Parks, Ascendas-Singbridge is also developing integrated projects with sector specific SEZs, commercial, industrial, residential and supporting social amenities in Chennai.
In 2005, its first India focused fund, Ascendas India IT Parks Trust was launched. In 2007, the Ascendas India Development Trust, a private real estate fund focusing on integrated property development projects was added to Ascendas-Singbridge's funds portfolio and Ascendas India Trust, which was Asia's first listed Indian property trust was launched on the Singapore Exchange. In 2013, the Ascendas India Growth Programme was launched with Singapore's sovereign wealth fund, GIC Private Limited, as a principal investor.
Ascendas-Singbridge has also launched an industrial real estate development platform in India dedicated to creating world-class logistics and industrial infrastructure across the country. This is expected to address the growing demand for quality logistics and manufacturing space from sectors like third-party logistics, e-commerce, automobiles, FMCG, modern retail and engineering among others.
Singapore & Bangalore, Karnataka, India