Ascendas India Trust to build and acquire warehouse in Panvel for $42.1 mil

Samantha Chiew
Samantha Chiew7/11/2019 06:26 PM GMT+08  • 2 min read
Ascendas India Trust to build and acquire warehouse in Panvel for $42.1 mil
SINGAPORE (July 11): The trustee-manager of Ascendas India Trust (a-iTrust) has entered into a construction funding and forward purchase agreement with a subsidiary of Arshiya, to develop an additional warehouse at the Arshiya Free Trade Warehousing Zone
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SINGAPORE (July 11): The trustee-manager of Ascendas India Trust (a-iTrust) has entered into a construction funding and forward purchase agreement with a subsidiary of Arshiya, to develop an additional warehouse at the Arshiya Free Trade Warehousing Zone (FTWZ) in Panvel.

The warehouse has a total leasable area of 325,503 sq ft and will be acquired by a-iTrust upon completion and leasing.

The total construction funding is expected not to exceed INR 700 million ($13.7 million), while the total consideration for the transaction is estimated at INR 2.1 billion ($42.1 million).

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