Ascendas India Trust completes Hyderabad IT building acquisition
Add BT as a preferred sourceASCENDAS India Trust (a-iTrust) completed the acquisition of multi-tenanted IT building aVance 3 on Thursday.
The purchase of the Hyderabad asset for 2.94 billion rupees (S$63 million) will support its income growth going forward, the firm said.
The building, which has a total floor area of about 682,900 square feet, has multinational anchor tenants such as United Healthcare Group and ValueLabs. It has a leasing commitment of 94 per cent as at July 30.
Said the trust manager's CEO Sanjeev Dasgupta: "aVance 3 is a high quality addition to our portfolio and increases a-iTrust's total floor area to 8.8 million sq ft. Acquiring aVance 3 deepens our presence in Hyderabad, a key gateway city for global companies looking to set up offshore IT operations."
Share with us your feedback on BT's products and services
TRENDING NOW
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Asean must retain more value as its digital economy races towards US$2 trillion: Indonesian minister
EU and Asean at 50: time for bold action
