Capital Land to invest ₹1,000 cr in Maia Estate’s commercial project at Nagawara

CapitaLand India Trust (CLINT), a property trust that has interests in commercial real estate space, will invest ₹1,000 crore in a 1.13 million sq.ft office project at Nagawara, Outer Ring Road, in the city.

CLINT has entered into a forward purchase agreement with Maia Estates Offices, an affiliate of Bengaluru-based luxury residential developer Maia Group (Maia), to acquire an office project at Nagawara, said the company.

As part of the forward purchase arrangement, CLINT will fully fund the development of the office project and receive interest on the funding at a rate which is higher than its borrowing cost. Upon completion of the development and stabilisation, CLINT is expected to acquire the office space in 1H 2030, while Maia will retain the retail portion.