The forward purchase acquisition of the two buildings will take place after completion of the construction and is subject to the receipt of the occupancy certificate for the project and other key conditions.
The manager of Ascendas India Trust (a-iTrust) has announced that it has entered into a forward purchase agreement with Gardencity Realty Private to acquire two buildings located in an IT park in Hebbal, Bangalore, India. The two buildings have a total net leasable area of up to 1.65 million square feet.
As part of the agreement, a-iTrust will also provide funding for the development of the project, which comprises three buildings spread across two land parcels, with an aggregate net leasable area of approximately 2.26 million square feet.
