REIT To Fund New Office Project in Bengaluru Suburb

Singapore-based CapitaLand India Trust (CLINT) Real Estate Investment Trust (REIT) continues to bet on the Bengaluru, India, area as a rising tech hub, with the REIT agreeing to fully fund development and purchase a 1.13 million ft² office project in the northern suburb of Nagawara, MINGTIANDI reports. Developed by local builder Maia Group, the complex is set to be purchased by CLINT for INR14.7 billion (US$168.6 million) in the first half of 2030, with Maia retaining the retail component. The project site is less than 1 km from Bengaluru’s Outer Ring Road and close to a new mass transit station scheduled for completion by 2026. CLINT acquired an IT park on Outer Ring Road in 2023 and has two office buildings, two additional IT parks and a data center under development in the vicinity.