SINGAPORE (May 21): Ascendas India Trust is deepening its presence in Hyderabad through the acquisition of two buildings in aVance Business Hub as well as five future buildings in aVance Business Hub 2.

The trustee-manager of Ascendas India Trust (a-iTrust) has entered into a forward purchase agreement with Phoenix Infocity to acquire two buildings, aVance 5 & 6, with a combined leasable area of 1.8 million square feet, in aVance Business Hub, located in HITEC City, Hyderabad.

On acquiring aVance 5 & 6, a-iTrust’s current portfolio will increase 13% from 14.2 million square feet to 16.0 million sf.

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