CapitaLand India Trust (CLINT) has solidified its commitment to expanding its industrial portfolio with a forward purchase agreement, partnering with Casa Grande Group to acquire three industrial facilities at OneHub Chennai, India.

The deal, valued at approximately Rs. 268 crore, encompasses a total net leasable area of 0.79 million sq ft.

The transaction comprises CLINT's partial funding for the lease of the project land and full funding for the project's development, according to the company.

This move follows CLINT's prior forward purchase transactions with Casa Grande Group, involving three industrial facilities at Mahindra World City, Chennai.

Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Management Pte—Ltd (the Trustee-Manager of CLINT), remarked, "The acquisition will further diversify CLINT’s portfolio and grow our industrial presence in Chennai, which is developing into an important hub for electronics component manufacturers in South India."

Through these forward purchase agreements, CLINT is strategically positioning itself to capitalize on the increasing demand from global companies seeking to establish industrial facilities in India.