CapitaLand India Trust Expands Mumbai Presence with Strategic Office Acquisition
The trust, owned by Singaporean property giant CapitaLand, has acquired an office building in Navi Mumbai for up to Rs 706 crore, marking its second purchase in the Aurum Q Parc development.
Capitaland India TrustOffice Building AcquisitionNavi MumbaiCommercial Real EstateProperty InvestmentReal EstateJul 22, 2024
CapitaLand India Trust, owned by Singaporean property major CapitaLand, will pay Rs 676 crore as the initial purchase consideration, with an additional Rs 30 crore to be paid subject to the achievement of business milestones by Aurum Ventures.
This acquisition is a testament to CapitaLand India Trust's commitment to investing in high-quality commercial properties in India's thriving business hubs. Navi Mumbai, with its proximity to Mumbai and excellent connectivity, has emerged as a popular destination for businesses looking to establish their presence in the region.
Aurum Q Parc is a prime commercial development, offering state-of-the-art infrastructure and amenities. The acquisition of this office building is expected to generate significant revenue for CapitaLand India Trust, given the high demand for Grade-A office space in the region.
Information
CapitaLand India Trust is a leading real estate investment trust (REIT) in India, sponsored by CapitaLand Limited, one of Asia's largest diversified real estate groups. The trust aims to provide investors with a stable income stream and long-term capital appreciation through its diversified portfolio of commercial properties in India.
CapitaLand Limited is a leading global real estate company headquartered in Singapore. With a presence in over 180 cities across more than 30 countries, CapitaLand's portfolio includes commercial, residential, and industrial properties, as well as real estate investment trusts (REITs) and business trusts. The company is committed to sustainable development and has been recognized for its efforts in environmental stewardship and social responsibility.
Frequently Asked Questions
What is the total consideration for the acquisition?
The total consideration for the acquisition is up to Rs 706 crore.
What is the initial purchase consideration?
The initial purchase consideration is Rs 676 crore.
What are the business milestones for the additional payment?
The additional Rs 30 crore will be paid subject to the achievement of business milestones by Aurum Ventures.
Where is the office building located?
The office building is located in Navi Mumbai.
What is the significance of this acquisition for CapitaLand India Trust?
This acquisition marks the trust's second purchase in the Aurum Q Parc development and expands its presence in the Indian commercial real estate market.
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