Singapore’s Mapletree buys land for Rs.5.25 bn in Mumbai

Mapletree Investments,headquartered in Singapore, has bought land for Rs.5.25 bn in the Vikhroli area of Mumbai. This can be earmarked as one of the biggest land deals in the country this year. Mapletree purchased the land from Kanakia Group, which had bought the land from India Tube Mills and Metals (ITM) for Rs.3.63 bn in 2018. Mapletree is planning to build a commercial project on the plot and the area would have around 2.2 mn sq ft of leasable land. The Singapore firm has made major real estate purchases in India in the past as well. In 2018 it bought SP Infocity in Chennai for Rs.24 bn, and in 2019 it bought an 8 acre land parcel in Pune for Rs.1.7 bn. 

Contact: Jitin Vaishnav, Vice President - Marketing & Leasing, India, Mapletree.

Address: Tower A, Ground Floor, Global Technology Park, Marathahalli Outer Ring Road, Devarabeesanahalli Village, Varthur Hobli, Bengaluru-560 103, Karnataka, India.

Tel: 080-6639 0800.

Website: www.mapletree.com.sg