a-iTrust invests in aVance4
a-iTrust invests in aVance 4
Ascendas Property Fund Trustee Pte Ltd, in its capacity as trustee-manager for Ascendas India Trust (“a-iTrust”), has invested in the fourth aVance Business Hub property (“aVance 4”) that is being constructed by the developer (Phoenix Infocity Pvt Ltd). aVance 4, an IT building with a total floor area of 390,000sqft, is located within Hitec City in Hyderabad.
a-iTrust would complete the acquisition of aVance 4, upon the building’s completion and satisfaction of all conditions precedent.Upon completion of this acquisition, a-iTrust will own 3.2 million sqft of commercial space in Hyderabad spread across aVance Business Hub, The V and Cyber Pearl.