CapitaLand India Trust to Acquire Bangalore, India Office Project for SG$234 Million

MT Newswires

Feb 24

CapitaLand India Trust (SGX:CY6U) has signed a forward purchase agreement with Maia Estates Offices to acquire a 1.13 million-square-foot office project in Bangalore, India, according to a Friday filing on the Singapore Exchange.

The estimated purchase price is SG$233.6 million.

CapitaLand India Trust will fund the office project's development, receiving interest on its investment, with the acquisition expected in the first half of 2030. The deal is projected to boost net profit by SG$7.7 million and lift distribution per unit to SG$0.0696 cents from SG$0.0684 cents.

The project expands CapitaLand India Trust's Bangalore portfolio to 9.9 million square feet, while its portfolio size will grow by 4% to 31.4 million square feet.

CapitaLand India Trust will finance the investment through divestment proceeds, debt, and internal resources.

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The deal is projected to boost net profit by SG$7.7 million and lift distribution per unit to SG$0.0696 cents from SG$0.0684 cents.</p><p>The project expands CapitaLand India Trust's Bangalore portfolio to 9.9 million square feet, while its portfolio size will grow by 4% to 31.4 million square feet.</p><p>CapitaLand India Trust will finance the investment through divestment proceeds, debt, and internal resources.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999007918.USD","symbol_name":"PHILLIP SINGAPORE REAL ESTATE INCOME FUND \"A\" (USDHDG) INC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2513769767","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2513769767","pubTimestamp":1740355219,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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