CapitaLand India to invest INR 268 Crore in three Industrial facilities at OneHub Chennai

Unnati More Feb 05, 2024 0

CapitaLand India Trust (CLINT) has signed a forward purchase agreement with Casa Grande Group worth an estimated combined purchase value of INR 268 Crore to acquire three industrial facilities with a net leaseable area of 0.79 Mn SqFt at OneHub Chennai. The investment includes CLINT’s partial funding for the lease of the project land and full funding for the development

Under the arrangement, CLINT will provide funding in three phases and acquire the facilities after each phase is completed, subject to a stabilisation period of six months for leasing. The acquisition of Phase I is anticipated to be completed by the first half of 2025.

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With the upcoming project, CLINT’s industrial, logistics and data centre asset classes under its committed pipeline will increase to 30.9 Mn SqFt from the current 30.1 Mn SqFt. The company has two business parks (International Tech Park Chennai and CyberVale), three industrial facilities at Mahindra World City and a data centre under development in Ambattur (scheduled to be completed in 2025).


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Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.

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