CapitaLand India Trust acquires Navi Mumbai business park

22 Jul 2024 CW Team

CapitaLand India Trust (“CLINT”) has completed the acquisition of Building Q2, a 0.82 million sq ft multi-tenanted IT Non-SEZ office building at Aurum Q Parc business park in Navi Mumbai, India, for a purchase consideration of approximately ₹ 6.76 billion2 . Additionally, a sum of approximately ₹ 0.30 billion is expected to be paid as deferred consideration, subject to the achievement of pre-agreed business milestones by Aurum Ventures (Vendor).

Building Q2 has been fully leased to reputed Indian and multinational companies such as Mizuho Bank, DP World, ICICI Bank, Axis Securities, John Cockerill, ideaForge Technology and Shriram Finance.

Sanjeev Dasgupta, Chief Executive Officer, CapitaLand India Trust Management (the Trustee-Manager of CLINT), said: “Acquisition of Building Q2 expands CLINT’s portfolio in Navi Mumbai, a thriving hub for IT and related services. We have seen strong leasing interest and rental growth in Building Q2 due to demand from multinational companies seeking a convenient base, as Aurum Q Parc is in close proximity to transport networks such as Ghansoli railway station and the upcoming international airport in Navi Mumbai. CLINT will continue to capitalise on the growing demand for business parks and remains committed to delivering sustainable returns to our unitholders.”

Building Q2 is the second of two buildings that CLINT has acquired through a forward purchase agreement with the Vendor, which was announced on 14 May 2018. The acquisition of Building Q1, an IT SEZ building, was completed on 23 November 2021 and has a committed occupancy of 94 percent. Collectively, Building Q1 and Building Q2 add a total of 1.47 million sq ft to CLINT’s portfolio.

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..