Warehousing is witnessing a new phenomenon. While investors such as GIC and Blackstone have entered it, older ones such as Embassy are looking to exit.
Last month, Singaporean sovereign fund GIC announced a $750-million joint venture (JV) with logistics investor-cum-developer ESR to set up warehouses in the country.
Though GIC had signed a similar JV with K Raheja Corp in 2018, the JV is yet to make any investment. "We are continuously perusing opportunities that can give us appropriate returns," said a K Raheja Corp spokesperson.
In another instance, Shapoorji Pallonji Group put its ambitious $1.3-billion logistics venture with Abu