+
CLINT Sells Chennai, Hyderabad Assets for Rs 11 Billion
Real Estate

CLINT Sells Chennai, Hyderabad Assets for Rs 11 Billion

Commercial real-estate trust CapitaLand India Trust (CLINT) has divested its stakes in CyberVale, Chennai, and CyberPearl, Hyderabad, to an unrelated third party for Rs 11 billion (approximately S$161.7 million). The two assets were sold at a 3 per cent premium to their independent valuations as of 31 December 2024. Net proceeds from the deal are expected to be Rs 10.8 billion (around S$158.8 million).
CyberVale comprises 0.8 million sq ft of IT Special Economic Zone space and 0.2 million sq ft of Free Trade Warehousing Zone in Mahindra World City, Chennai. CyberPearl is a 0.4 million sq ft IT park located in Hyderabad’s HITEC City. Combined, the properties span about 1.4 million sq ft.
Gauri Shankar Nagabhushanam, CEO of CapitaLand India Trust Management Pte. Ltd., said: “The successful divestment of CyberVale and CyberPearl marks the start of our capital recycling strategy to optimise CLINT’s portfolio and strengthen financial flexibility. The proceeds give us the option to reduce debt, reinvest in higher-yielding projects, and enhance unitholder distributions. With our strong financial position, we will continue to look for attractive investments to deliver sustainable returns.”
After the transaction, CLINT’s completed portfolio will cover 21.2 million sq ft. In Chennai, the trust will retain International Tech Park Chennai, three industrial facilities, and a data centre under development. In Hyderabad, the portfolio will include International Tech Park Hyderabad, aVance Hyderabad, and a data centre under development.

Commercial real-estate trust CapitaLand India Trust (CLINT) has divested its stakes in CyberVale, Chennai, and CyberPearl, Hyderabad, to an unrelated third party for Rs 11 billion (approximately S$161.7 million). The two assets were sold at a 3 per cent premium to their independent valuations as of 31 December 2024. Net proceeds from the deal are expected to be Rs 10.8 billion (around S$158.8 million).CyberVale comprises 0.8 million sq ft of IT Special Economic Zone space and 0.2 million sq ft of Free Trade Warehousing Zone in Mahindra World City, Chennai. CyberPearl is a 0.4 million sq ft IT park located in Hyderabad’s HITEC City. Combined, the properties span about 1.4 million sq ft.Gauri Shankar Nagabhushanam, CEO of CapitaLand India Trust Management Pte. Ltd., said: “The successful divestment of CyberVale and CyberPearl marks the start of our capital recycling strategy to optimise CLINT’s portfolio and strengthen financial flexibility. The proceeds give us the option to reduce debt, reinvest in higher-yielding projects, and enhance unitholder distributions. With our strong financial position, we will continue to look for attractive investments to deliver sustainable returns.”After the transaction, CLINT’s completed portfolio will cover 21.2 million sq ft. In Chennai, the trust will retain International Tech Park Chennai, three industrial facilities, and a data centre under development. In Hyderabad, the portfolio will include International Tech Park Hyderabad, aVance Hyderabad, and a data centre under development.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Annette Gregg Named WTCA’s First Female CEO

World Trade Centers Association (WTCA) has appointed Annette Gregg as Chief Executive Officer, making her the first woman to lead the organisation in its 57-year history.Gregg assumed the role from October 5 and will lead WTCA from its recently established global headquarters at One World Trade Center in New York City. The association connects more than 300 World Trade Center locations across nearly 100 countries and territories.As CEO, Gregg will provide strategic leadership to WTCA and its global staff, working with the Board of Directors and members to advance business priorities, strengthe..

Next Story
Resources

Isprava Appoints Sanjay Sethi as Strategic Advisor

Isprava Group has appointed Dr Sanjay Sethi as Strategic Advisor to the business, with a focus on Lohono Stays and Isprava Hospitality.Sethi brings more than 37 years of experience across hospitality operations, development, ownership, strategic growth and capital markets. He will work closely with the Group on strategy, growth and the development of its hospitality business.The appointment comes as Isprava Group expands its integrated ecosystem spanning luxury homes, hospitality, private membership and end-to-end homeowner services.Nibhrant Shah, Managing Director & Co-CEO, Isprava Group, sai..

Next Story
Infrastructure Energy

SunBridge BioEnergy Starts Ethanol Production in Seoni

SunBridge BioEnergy, the bioenergy arm of SunBridge Group, has commenced commercial production at its grain-based fuel-grade ethanol manufacturing facility in Seoni, Madhya Pradesh. The Seoni plant has a production capacity of 300 kilolitres per day and a storage capacity of 11,000 kilolitres. Spread across approximately 117,560 sq m, the facility marks SunBridge BioEnergy’s entry into commercial ethanol production. The company is also expanding its ethanol portfolio with a 400 KLD facility in Raipur, Chhattisgarh, which is expected to become operational soon. Once commissioned, SunBridge ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code