Ascendas India Trust to acquire a warehouse in North India
The proposed acquisition enables a-iTrust to grow its warehousing footprint
Ascendas Property Fund Trustee has signed definitive agreements for the acquisition of an income-producing warehouse with a total floor area of approximately 0.2 million square feet from Arshiya Northern FTWZ. The transaction closing is subject to the completion of certain conditions precedent.
Sanjeev Dasgupta, Chief Executive Officer of the Trustee-Manager said, “The logistics sector caters to domestic consumption and industrial demand and provides diversification to our business parks portfolio. The proposed acquisition also enables a-iTrust to grow its warehousing footprint in North India. We would benefit from key infrastructure projects like Jewar International airport and Dedicated Freight Corridor coming up in the vicinity.”