CapitaLand India Trust (SGX:CY6U) has signed a forward purchase agreement with Maia Estates Offices to acquire a 1.13 million-square-foot office project in Bangalore, India, according to a Friday filing on the Singapore Exchange.
The estimated purchase price is SG$233.6 million.
CapitaLand India Trust will fund the office project's development, receiving interest on its investment, with the acquisition expected in the first half of 2030. The deal is projected to boost net profit by SG$7.7 million and lift distribution per unit to SG$0.0696 cents from SG$0.0684 cents.
The project expands CapitaLand India Trust's Bangalore portfolio to 9.9 million square feet, while its portfolio size will grow by 4% to 31.4 million square feet.
CapitaLand India Trust will finance the investment through divestment proceeds, debt, and internal resources.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.