Sattva Group Acquires 8.5-Acre Land Parcel in Bengaluru for Rs 300 Crore

Real estate development company Sattva Group has acquired an 8.5-acre land parcel in Bengaluru’s Export Promotion Industrial Park (EPIP) for approximately Rs 300 crore. The site, purchased from a high-net-worth individual, features a fully operational unit with a built-up area of 1,88,000 sq. ft. and offers significant development potential of up to 1.2 million sq. ft., including a state-of-the-art 35 MW data centre.

Located in one of Bengaluru’s prime industrial and business hubs, the acquisition aligns with Sattva Group’s long-term strategy of expanding its presence in the city’s booming commercial real estate market. The strategic location and development prospects make it a key addition to the company’s portfolio, reinforcing its position in Bengaluru’s competitive property landscape.

This acquisition is part of Sattva Group’s broader plan to consolidate its office portfolio as it prepares to launch India’s largest Real Estate Investment Trust (REIT) in collaboration with Blackstone. The proposed REIT could include approximately 50 million sq. ft. of office space, cementing Sattva’s role as a significant player in the commercial real estate sector.

Currently, Sattva Group and Blackstone jointly own about 32 million sq. ft. of real estate assets, including 20 million sq. ft. of completed office spaces in Hyderabad and Bengaluru. This acquisition further strengthens their portfolio, showcasing the growing interest of developers in acquiring premium properties with future development potential.

The deal, finalized in the last quarter, highlights the robust demand for commercial real estate in Bengaluru, driven by its thriving industrial and business sectors. Sattva Group’s focus on acquiring prime assets and its ambitious REIT plans underscore its commitment to enhancing its market presence and capitalizing on Bengaluru’s dynamic real estate growth.

This strategic move positions Sattva Group to leverage Bengaluru’s expanding business districts, aligning with the city’s growth trajectory and the increasing demand for high-quality commercial spaces.