Media Resouces
Mapletree acquires SP Infocity Park and renames as Global Infocity Park Chennai
11 Dec 2018
  • Grade A IT office development offering close to 2.7 million square feet of leasable space spread across three towers
  • Conveniently located on Old Mahabalipuram Road (“OMR”) which is one of the largest office precincts for IT tenants in India
  • Strong leasing interest with current occupancy of 99%

SINGAPORE – Further expanding its presence in India, Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) has acquired the securities of Faery Estates Private Limited from SPREP Pte. Ltd., which owns a Grade A IT office development SP Infocity in Chennai, India.

Upon acquisition, the Group renamed SP Infocity to Global Infocity Park Chennai (“Global Infocity”) and unveiled a new property logo. This transaction is the largest acquisition made by Mapletree in India to date.

Mr Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer, said: “Our latest acquisition in India, one of the world’s fastest growing economies, will strengthen our presence in this market, and further diversifies our investment property portfolio across Asia. As a leading real estate developer, investor, and capital and property manager, we are glad to have seized the opportunity to add this quality, income-yielding property to deliver strong earnings and returns.”

In addition, Global Infocity is located along OMR before the toll plaza, which has evolved to become one of India’s prime IT corridors. The property enjoys close proximity to the city centre, established transport nodes and social infrastructure.

Commenting on the acquisition, Mr Quek Kwang Meng, Mapletree’s Regional Chief Executive Officer, India, said: “With a Weighted Average Lease Expiry (“WALE”) of approximately 5.7 years, we are excited by the acquisition of this stable asset. The rebranding to Global Infocity Park Chennai better reflects the global nature of our tenant base, which includes financial institutions and consulting and technology firms.”

Mapletree acquired its first asset in India, Global Technology Park (“GTP”), a 5.3 hectare IT park in Bangalore in October 2011. Spanning five office towers, and developed across two phases, GTP was completed in October 2017.

 

Photographs of Global Infocity (high-res versions available for download here)

  

 

 

Global Infocity’s new logo

MEDIA CONTACTS

Eileen LEE
   
Dorothy SIOK
Manager, Corporate Communications
  Senior Executive, Corporate Communications
Tel: +65 6659 3669
  Tel: +65 6377 6376
Email: eileen.lee@mapletree.com.sg
  Email: dorothy.siok@mapletree.com.sg


ABOUT MAPLETREE

Mapletree is a leading real estate development, investment, capital and property management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.

Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, the United Kingdom (UK) and the United States (US).

As at 31 March 2018, Mapletree owns and manages S$46.3 billion of office, retail, logistics, industrial, residential, corporate housing / serviced apartment, and student accommodation properties.

The Group’s assets are located across 12 economies globally, namely Singapore, Australia, China, Germany, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

For more information, please visit www.mapletree.com.sg.