Ascendas India Trust (a-iTrust) has entered into a construction funding and forward purchase agreement with a subsidiary of Arshiya Limited to develop an additional warehouse in the Arshiya Free Trade Warehousing Zone (FTWZ), in Panvel.

The warehouse will feature total leasable area of 325,503 square feet, and will be acquired by a-iTrust upon completion and leasing.

In February 2018, a-iTrust completed the acquisition of six operating warehouses at the Panvel FTWZ.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.