a-iTrust to buy 2 office blocks in Hyderabad's HITEC City
Total purchase price - based on pre-agreed formula - will not exceed 14 billion rupees
Singapore
ASCENDAS Property Fund Trustee, the trustee-manager of Ascendas India Trust (a-iTrust), has agreed to acquire two office buildings in aVance Business Hub 2, a business park located in Hyderabad's HITEC City.
The transaction comprises a two-stage process. a-iTrust will first subscribe to debentures issued by Phoenix Infrasoft India Private Ltd (PIIPL 1) and Phoenix Infraspace India Private Ltd (PIIPL 2), the two entities developing the buildings, for 7.96 billion Indian rupees (S$157.8 million).
TRENDING NOW
One-third of Singapore-listed firms at risk in severe AI downturn: MAS
‘Not done’: Keppel CEO Loh Chin Hua transformed the group, but says there’s ‘still a lot to do’
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
‘We don’t want to stay as we are’: CEO Patrick Ng builds a more resilient Huationg
