Schedule a Call Back
GMR Group sells 818,000 sqft Warehouse at Hyderabad Airport
2023-06-09
GMR Group has recently announced the sale of an expansive warehouse facility spanning 818,000 square feet, situated at Hyderabad airport. The facility has been divested to ILP Core Ventures I PTE, a subsidiary of Indospace Core PTE.The transaction was finalized after GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports Infrastructure, signed definitive agreements with ILP Core Ventures I PTE. The enterprise value of the deal amounted to Rs 1.88 billion.
The proceeds from the sale will be utilized for expanding facilities and exploring growth opportunities within the Hyderabad Airport Land Development portfolio. The substantial interest shown by various global investors further validates the emergence of Aerocities as a contemporary real estate ecosystem within major airports.
To execute the divestment, GMR Hyderabad Airport Assets and a special purpose vehicle, which held full equity ownership of the warehouse facility, were transferred. Consequently, GHAAL will no longer operate as a subsidiary of GIL.
ILP Core Ventures I Pte was established in 2017 as a wholly owned subsidiary of IndoSpace Logistics Parks Core Pte, with its headquarters in Singapore.
Subscribe Now
Subscribe to our Newsletter & Stay updated
RECENT POSTS
Popular Tags
Folliow us
Related Stories
Cochin Shipyard and Drydocks World to Develop Ship Repair Clusters
Cochin Shipyard (CSL), a Public Sector Enterprise under the Ministry of Ports, Shipping and Waterways, Government of India, and Drydocks World, a...
SBI to Sell Over 13 Per Cent Stake in YES Bank to SMBC
State Bank of India (SBI) has approved the sale of 413,440,489 equity shares of YES Bank Limited, representing 13.19 per cent of the bank's share...
Chhattisgarh Deploys Hydrogen Truck for Coal Transport
Chhattisgarh has become the first Indian state to introduce a hydrogen-powered truck for coal mining logistics. Deployed at the Gare Pelma III coal...
