CapitaLand-backed Ascendas Firstspace expands logistics footprint with major Ahmedabad acquisition. The company has agreed to forward purchase approximately 9 lakh square feet of Grade-A warehousing and industrial space in Bavla, Ahmedabad from Crystal Group in a deal valued at Rs 275 crore. The forward purchase structure allows Ascendas Firstspace to acquire the property during development while enabling Crystal Group to monetize its pipeline and scale operations. Bavla has emerged as a premier warehousing hub in Western India, benefiting from strong connectivity to NH-48, proximity to major consumption centers, and access to industrial corridors linking Gujarat with Maharashtra and Rajasthan. The entire asset will be delivered in stages with completion expected within 18 months, strengthening Ascendas Firstspace's position in the high-growth logistics real estate sector.
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