Besides aVance 3, we have rights to acquire
two other buildings to be constructed by the
Vendor totaling 1.24 million sq ft. We intend
to commence construction funding for aVance
4 once the leasing milestones are met.
In addition to the agreement with the Vendor,
a-iTrust was granted a ROFR to acquire four
other buildings within aVance Business Hub.
These four buildings totaling 1.16 million sq ft
are owned by a separate party to the Vendor.
To ensure that new buildings built by the Vendor
meet our requirements, a-iTrust and the Vendor have
set up a project committee to oversee the design
and development of new buildings. In addition, we
also have a robust process in place for securing the
desired tenant profile by pre-qualifying the tenant
list, setting the rental range, and specifying other
material terms of the lease contracts. Lastly, a-iTrust
has the rights (through its appointed property
manager) to manage buildings not owned by it to
maintain the level of standard that our customers
have come to expect across the entire IT Park.
1
4
2
Summary
Building
Floor area
(million sq ft)
Status
a-iTrust
properties
aVance
aVance
aVance
0.20
0.23
0.68
Acquired
Acquired
Acquired
Total
1.11
Right to
acquire
aVance
aVance
0.39
0.85
Under construction
Not built
Total
1.24
Right of
first refusal
to acquire
aVance
aVance
aVance
aVance
0.23
0.30
0.20
0.43
Completed
Completed
Completed
Under construction
Total
1.16
1
4
6
2
5
7
8
9
3
3
5
6
7
8
9
.27
ASCENDAS india trust ANNUAL REPORT
2015/2016
Ove r v i ew
what af f ect s us
what we do
our p e r formance
