Ascendas Property Fund Trustee Pte Ltd Appoints CEO – Mr. Sanjeev Dasgupta

Bangalore, July 15, 2014 – We are pleased to announce the appointment of Mr. Sanjeev Dasgupta as the Chief Executive Officer (“CEO”) of Ascendas Property Fund Trustee Pte Ltd (“APFT”), the Trustee-Manager of Ascendas India Trust (“a-iTrust”). Mr. Dasgupta succeeds Mr. Jonathan Yap as CEO of APFT on 11 July 2014.

Mr. Dasgupta, who joined APFT on 15 January 2014, has extensive experience in corporate finance and fund management. His last role before joining Ascendas Group was as the President of Real Estate at ICICI Venture, where he was responsible for real estate private equity investments. Mr. Dasgupta will oversee the operation of a-iTrust and its asset and investment management, finance and investor relations activities. He will also be concurrently CEO, India Funds and managing Ascendas’ private real estate funds.

Mr. Lee Fu Nyap, CEO, India Operations, will continue to oversee Ascendas’ operations in India, including its business development as well as property leasing, development and management activities. He will also oversee Ascendas’ direct investments in India.

Mr. Yap will focus on his role as Ascendas Group’s Assistant Group CEO, Overseas Funds and India after stepping down as CEO of APFT. Both Mr. Dasgupta and Mr. Lee reports to Mr. Yap.

Commenting on Mr. Dasgupta’s appointment, Mr. Jonathan Yap said, “Ascendas has been investing in Indian real estate for over two decades both directly as well as through the listed and private funds. With Sanjeev’s joining and expansion of the senior management team, we will continue to seek growth and deepen our presence in India.”

Profile of Mr. Sanjeev Dasgupta, CEO, Ascendas Property Fund Trustee Pte Ltd

Mr. Sanjeev Dasgupta has around 22 years of experience in the areas of real estate fund management, corporate finance, strategy and financial control. Immediately prior to joining Ascendas, he was working as President of Real Estate at ICICI Venture Funds Mgmt. Co. Ltd., a leading private equity fund manager in India. In that role, Mr. Dasgupta was responsible for investments and portfolio management of the Real Estate funds of around USD 600 million. His key achievements included creation of a real estate structured investment product and a managed account platform through which he led investments in Mumbai, NCR and Bangalore. He also played a key role in significant performance improvements of certain assets through changes in the development mix, cost reduction, refinancing and other initiatives. Prior to joining ICICI Venture, Mr. Dasgupta managed real estate investments of around USD 430 million as Managing Director at Future Capital Real Estate, a leading real estate development oriented fund manager. He led several landmark investments in metros such as Mumbai and Bengaluru and in high growth tier 2 cities.

Mr. Dasgupta’s prior work experience included stints with organisations such as Tata Group and Merrill Lynch across India, Hong Kong and London. He is a qualified chartered accountant, graduate company secretary and an MBA from London Business School.

Mr. Dasgupta is based out of Ascendas’ headquarters in Singapore. BWI