NEW DELHI: CapitaLand, based in Singapore, is in the process of divesting an industrial unit in Chennai, currently leased to Pegatron, a major Apple supplier, as confirmed by sources familiar with the situation.
The 750,000 sq ft asset is anticipated to secure around ₹600 crore, with Brookfield, Hines, and Hillhouse Capital among the bidders selected.
CapitaLand is currently seeking board approval for a new round of bidding.
“The property is on a long-term lease and is highly valuable due to the manufacturing of Apple products there. The CapitaLand board is reviewing the bidding process following an initial round of offers. While several global companies have expressed interest, a decision on rebidding is still pending,” stated one of the sources.
Industry insiders noted that this facility produces around 750,000 iPhones, including refurbishments.
“It’s an advanced industrial site and one of the largest iPhone manufacturing facilities in India,” the executive added.
Representatives from CapitaLand, Hines, and Brookfield declined to comment, while Hillhouse did not respond to the inquiry.
Earlier this year, Apple arranged for cargo flights to transport 600 tonnes of iPhones (around 1.5 million units) to the U.S. from India, in response to increased production aimed at circumventing tariffs imposed by President Donald Trump.
Recently, Tata Electronics acquired a 60% majority stake in Pegatron’s Indian subsidiary, Pegatron Technology India, which includes the iPhone assembly line in Tamil Nadu.
According to property consultancy Cushman & Wakefield, 88% of manufacturers are expanding operations due to confidence in infrastructure, and over 95% report improved logistics access through government initiatives.
The study highlights optimism regarding the effects of government-led infrastructure projects like Bharatmala, Sagarmala, Dedicated Freight Corridors, and the National Industrial Corridor Development.
