As part of the agreement, Ascendas India will provide construction finance of around Rs500 crore for the two buildings through a debenture issue. ft in Navi Mumbai’s Aurum Platz IT Park for around Rs930 crore, top executives at the two companies said. Ascendas India Trust has entered into a so-called forward purchase agreement with Navi Mumbai-based builder Aurum Ventures to buy the two assets, said Sanjeev Dasgupta, chief executive officer (CEO) of Ascendas Property Fund Trustee Pte Ltd, the trustee-manager of Ascendas India Trust. As part of the agreement, Ascendas India will provide construction finance of around Rs500 crore for the two buildings through a debenture issue. “Captive requirements of several MNCs, banking and financial services companies are coming up, which was not the case two years ago.” According to real estate experts, foreign real estate firms are eyeing a few core assets due to the limited supply of office spaces.

Source: Mint May 14, 2018 17:37 UTC