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.
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