CapitalLand acquires Aurum Ventures’ Navi Mumbai office tower for Rs 707 Cr

July 22, 2024: CapitaLand India Trust, a Singapore-based Real Estate Investment Trust (REIT) formerly known as Ascendas India Trust, part of CapitaLand Group, has recently acquired realty developer Aurum Ventures’ 22-storey, 8.5 lakh square feet office tower in Navi Mumbai for Rs 707 crore. The deal follows a forward purchase agreement made in May 2018 between Aurum Ventures and Ascendas India Trust (now CapitaLand India Trust).

The LEED Platinum-rated building boasts the highest rentals in Navi Mumbai and comprises multinationals such as DP World, Mizuho Bank, Lloyd Register, IdeaForge, Technip, ICICI Bank, and Axis Bank among its tenants.

Aurum Q Parc is set to further enhance its appeal with the upcoming operationalization of ‘Aurum Square’, a retail galleria featuring a 1,000-seater Cinepolis multiplex and over 10 branded restaurants. Further, Aurum is constructing another office building, Q3, on the same campus, covering an area of 1.3 million sq ft and slated to be completed by December 2027.