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Sponsor pipeline
a-iTrust’s sponsor Ascendas Group, Asia’s leading provider
of business space solutions, has granted the Trust the
Right Of First Refusals (“ROFR”) to acquire income-
producing properties from the following entities:
Ascendas Land International Pte Ltd, which has two
IT Parks:
i) CyberVale, an IT SEZ in Chennai with 0.56 millionsqft
of completed space and land with development
potential of 0.37 million sq ft; and
ii) International Tech Park Pune, an IT SEZ in Pune with
0.66 million sq ft of completed space and land with
development potential of 1.56 million sq ft.
Ascendas India Development Trust, a real estate fund
that develops greenfeld projects. It has committed
equity of S$500 million and land in Gurgaon, Chennai
& Coimbatore.
Ascendas India Growth Programme, a real estate
fund that targets business space developments and
pre-stabilised completed business space assets. It has
a target asset size of S$600 million. The ROFR covers
Ascendas Group’s stake in the assets of this fund.
International Tech Park Pune
CyberVale
Investment management