Singapore-based CapitaLand has sold a 1.9 million sq ft commercial property located in Gurugram to EAAA Alternatives for ₹2,050 crore. This move is part of CapitaLand’s strategy to generate capital through significant asset divestments and to enhance its portfolio.
According to a source familiar with the matter, “CapitaLand’s strategic exits reflect the changing demand dynamics in India’s office market, where hybrid work trends and selective tenant preferences are redefining valuations and capital movements.”
The property, known as International Tech Park in Gurugram, is home to prominent tenants such as Optum, Stryker, and Zomato.
This year, CapitaLand India Trust (CLINT) also sold off two major IT park assets—CyberVale in Chennai and CyberPearl in Hyderabad—raising about ₹1,103 crore (approximately S$161.7 million). This sale marked CLINT’s first significant exit since its 2007 listing and was a crucial part of its strategy to unlock asset value and enhance financial flexibility.
CBRE, the advisory firm for this transaction, chose not to comment. Both Edelweiss EAAA and CapitaLand have also refrained from responding.
Beyond outright asset sales, CapitaLand is pursuing a broader approach to portfolio management in India. In late 2025, CLINT agreed to divest a 20.2% stake in three under-construction data center properties to the CapitaLand India Data Centre Fund (CIDCF) for around ₹702 crore. This move reflects CapitaLand’s intent to realize value while remaining invested in high-growth sectors like data infrastructure.
“Selling off older or non-core assets allows investors to reinvest in higher-growth sectors—such as data centers, logistics, and emerging office areas—while enhancing balance-sheet flexibility and increasing returns for unitholders,” noted a source involved in the deal.
For EAAA Alternatives, this acquisition is part of a larger strategy to expand into Indian office and real estate markets. The alternative asset management arm of the Edelweiss Group has been actively involved in various commercial real estate transactions, including a significant purchase of office space in Bengaluru’s Greenheart Tech Park through its Rental Yield Plus Fund, as well as other investments aimed at establishing a diversified, income-generating portfolio.
Edelweiss’s alternatives division is currently in a fundraising phase, with recent reports indicating that its multi-strategy real assets fund has raised over ₹2,500 crore, highlighting strong interest from investors in diversified asset strategies in India’s alternative investment landscape.
Experts suggest that as alternative asset managers broaden their reach and attract more capital, activity in both primary and secondary office markets is expected to persist through 2026.
