Wednesday, September 27, 2023
HomeNewsTop NewsAscendas India Trust signs definitive agreements for acquisition of Phase 2 warehouse 

Ascendas India Trust signs definitive agreements for acquisition of Phase 2 warehouse 

Ascendas India Trust (a-iTrust), is pleased to announce that it has entered into definitive agreements for the proposed acquisition of all of the issued share capital of Anomalous Infra Private Limited, which owns a 0.33 million square feet warehouse at the Arshiya Free Trade Warehousing Zone, Panvel, Navi Mumbai.

This is a recently constructed operational warehouse and is being acquired from the Arshiya Group as part of the forward purchase agreement executed in July 2019. a-iTrust had acquired six operating warehouses from the Vendor with total leasable area of 0.83 million square feet in February 2018. Similar to these six warehouses, the seventh warehouse will also be leased and operated by a subsidiary of the Vendor for a period of six years. The acquisition of this warehouse is expected to be completed shortly.

Mr. Sanjeev Dasgupta, Chief Executive Officer of the Trustee-Manager

Mr. Sanjeev Dasgupta, Chief Executive Officer of the Trustee-Manager said, “The acquisition enables a-iTrust to further expand its presence in the logistics sector. Given the unique benefits offered by the FTWZ logistics segment, we are seeing growing demand in this space and this acquisition puts us in a good position to capitalise on this growth.”


AscendasIndiaTrust(a-iTrust)was listedonthe Singapore ExchangeSecurities TradingLimited(SGX-ST) inAugust 2007 as the first Indian property trust in Asia. Itsprincipalobjectiveistoownincome-producing realestate used primarily as businessspace in India.a-iTrustmay also develop and acquire land or uncompleted developments primarily to be used as businessspace,withtheobjective of holding the properties upon completion. As at 31 December 2021, a-iTrust’s assetundermanagementstands at S$2.4billion.

a-iTrust’sportfolioincludessevenworld-classITbusinessparks,one logisticspark and one datacentre development in India, with total completed floor area of 15.0 million square feet spreadacrossBangalore,Chennai,Hyderabad,PuneandMumbai.a-iTrustisfocusedoncapitalisingonthe fast-growing IT industry and logistics/industrial asset classes in India, as well as proactivelydiversifyingintoothernew economyassetclasssuch asdatacentres.

a-iTrust is structured as a business trust, offering stable income distributions similar to a realestate investment trust. a-iTrust focuses on enhancing shareholder value by actively managingexisting properties, developing vacant land in its portfolio, and acquiring new properties. a-iTrustismanagedbyAscendasPropertyFundTrusteePte.Ltd.Thetrustee-managerisawhollyownedsubsidiaryofSingapore-listedCapitaLandInvestmentLimited,aleadingglobalrealestateinvestmentmanagerwitha strongAsiafoothold.


Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading globalreal estate investment manager (REIM) with a strong Asia foothold. As at 31 December 2021,CLIhadabout S$122.9billionofrealestateassetsundermanagement,andaboutS$86.2billionofrealestatefundsundermanagement(FUM)heldviasixlistedrealestateinvestmenttrustsandbusinesstrusts,and29privatefundsacrosstheAsia-Pacific,EuropeandUSA.Itsdiversifiedrealestate asset classes cover integrated developments, retail, office, lodging, business parks,industrial,logisticsand datacentres.

CLIaimstoscaleitsFUMandfee-relatedearningsthroughitsfullstackofinvestmentmanagement and operating capabilities. As the listed investment management business arm oftheCapitaLandGroup,CLIhasaccesstothedevelopmentcapabilitiesofandpipelineinvestment


As part of the CapitaLand Group, CLI places sustainability at the core of what it does. As aresponsible real estate company, CLI contributes to the environmental and social well-being ofthecommunitieswhereitoperates,asit deliverslong-termeconomicvaluetoitsstakeholders.


This release may contain forward-looking statements. Actual future performance, outcomes andresults may differ materially from those expressed in forward-looking statements as a result of anumberofrisks,uncertaintiesandassumptions.Representativeexamplesofthesefactorsinclude(without limitation) general industry and economic conditions, interest rate trends, cost of capitalandcapitalavailability,availabilityofrealestateproperties,competitionfromotherdevelopmentsor companies, shifts in customer demands, shifts in expected levels of occupancy rate, propertyrentalincome,chargeoutcollections,changesinoperatingexpenses(includingemployeewages,benefitsandtraining,propertyoperatingexpenses),governmentalandpublicpolicychangesandthe continued availability of financing in the amounts and the terms necessary to support futurebusiness.

You are cautioned not to place undue reliance on these forward-looking statements, which arebasedonthecurrentviewofmanagementregardingfutureevents.Norepresentationorwarrantyexpressedorimpliedismadeasto,andnorelianceshouldbeplacedon,thefairness,accuracy,completeness or correctness of the information or opinions contained in this release. NeitherAscendas Property Fund Trustee Pte. Ltd. (“Trustee-Manager”) nor any of its affiliates, advisersor representatives shall have any liability whatsoever (in negligence or otherwise) for any losshowsoeverarising,whetherdirectlyorindirectly,fromanyuseof,relianceonordistributionofthisreleaseoritscontentsorotherwisearising inconnectionwiththisrelease.

The past performance of Ascendas India Trust(“a-iTrust”)is not indicative of future performance.The listing of the units in a-iTrust (“Units”) on the Singapore Exchange Securities Trading Limited(“SGX-ST”) does not guarantee a liquid market for the Units. The value of the Units and theincome derived from them may fall as well as rise. Units are not obligations of, deposits in, orguaranteed by, the Trustee-Manager. An investment in the Units is subject to investment risks,including the possible loss of the principal amount invested. Investors have no right to requestthat the Trustee-Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.


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