Mindspace Business Parks REIT, a real estate investment trust (REIT), has acquired a commercial asset, Commerzone Raidurg, a Grade A office campus in Hyderabad’s Madhapur locality for Rs 20.38 billion. The acquisition was made through a 100 per cent stake in Sustain Properties, which holds a 65.5 per cent share in the asset. The asset has a leasable area of 1.82 million square feet, part of a larger 2.8 million square foot area. Further, the asset is fully leased. The deal is subject to shareholder approval. With this acquisition, Mindspace REIT’s portfolio will expand from 34.8 million square feet to 36.6 million square feet.
Speeding Up: Key developments in the railway sector
Over the past few years, Indian Railways (IR) has made significant strides in rail safety, modernisation and technological innovation. With strong budgetary support, IR aims to achieve its objective of higher speed, better passenger amenities […]
Dr G. Mohapatra: “Traffic growth projections of 12.1 per cent over the next five years augur well for the sector”
The Airports Authority of India (AAI) is continuously striving to improve the airport and air navigation system (ANS) infrastructure in the country. With a steady increase in traffic growth, capacity augmentation plans have been put […]
Growth Momentum: Key developments in the oil and gas sector
Over the past year, the oil and gas sector has witnessed substantial progress across segments. Key developments include major discoveries, midstream infrastructure project implementation, and policies and agreements promoting biogas and hydrogen blending in the […]