S$34.7M investment: CapitaLand India Trust to acquire 2.5M sq ft of IT buildings at HITEC City, Hyderabad

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This move by CLINT is expected to increase its earnings and boost returns for its Unitholders

SINGAPORE: CapitaLand India Trust has reportedly entered into a forward purchase agreement with Phoenix Group to acquire prime IT buildings in HITEC City, India, an area in Hyderabad that’s a magnet for major multinational companies..

Under the forward purchase agreement, CLINT will fund INR 2.15 billion to clear off the existing loan. In return, it’ll earn interest on the funding at a rate that beats its borrowing cost.

 

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