CapitaLand India Trust (CLINT) is not done with its buying spree and now announces the purchase of part of an IT park project on the Outing Ring road of Bangalore, India. The property will be built on a 5.3 acres freehold plot with 2 buildings, the larger one (about a million square feet) being completed in 2025 and acquired in 2027 by CLINT, while the other one (about 0.5 million square feet) will go to the landowners.

CLINT will provide total funding for the development of up to INR8,684 million (or about S$142.4 million towards the project), with a projected total purchase price expected to be INR12,261 million (or about S$201.0 million).

Pro-forma, the operation is expected to be NAV and DPU accretive.