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Sattva Group has secured an 8.5-acre land parcel in Bengaluru's Export Promotion Industrial Park (EPIP) from a high-net-worth individual for INR 300 crore. It was previously occupied by global healthcare company Novo Nordisk India. The site offers a built-up area of 188,000 square feet, with future development potential of up to 1.2 million square feet and a 35 MW data centre. This acquisition strengthens Sattva's presence in Bengaluru's commercial real estate sector. The deal highlights growing developer interest in Bengaluru, particularly for properties with future growth potential. The company is also preparing for a REIT listing.
Real estate development firm Sattva Group has acquired an 8.5-acre land parcel in Bengaluru's Export Promotion Industrial Park (EPIP) from a high-net-worth individual for approximately INR 300 crore. This property, which was previously occupied by global healthcare company Novo Nordisk India for over a decade, remains a landmark in the area. Novo Nordisk operated from this campus for more than ten years before transitioning out. Advertisement
The campus includes a fully functional operational unit with a built-up area of 188,000 square feet. Additionally, it offers significant development potential of up to 1.2 million square feet and features a 35 MW data centre. Located in one of Bengaluru's prominent industrial and business hubs, the acquisition is expected to further strengthen Sattva Group's position in the city's flourishing commercial real estate market.
A source familiar with the deal noted that this acquisition is well-aligned with Sattva Group's long-term strategy, highlighting how the location and its potential for development fit perfectly into the company's expansion plans in Bengaluru's growing business districts.
While Sattva Group declined to comment on the deal, the acquisition, which was finalised in the last quarter, reflects the ongoing interest from real estate developers in acquiring prime properties in Bengaluru. The source also mentioned the growing demand from large developers seeking well-located campuses to meet their expansion needs, underscoring the appeal of Bengaluru's real estate market to both institutional and private investors.
This acquisition comes as Sattva Group prepares to consolidate its office portfolio in line with its plans to list India's largest Real Estate Investment Trust (REIT) in collaboration with Blackstone. The REIT, expected to encompass around 50 million square feet of office space, will position Sattva Group as a major player in India's commercial real estate sector.
Sattva Group, in partnership with Blackstone, currently manages around 32 million square feet of real estate assets, including 20 million square feet of completed assets in Bengaluru and Hyderabad. The company is also in discussions to potentially launch a REIT early next year. Operating across 11 business verticals, Sattva focuses on residential and commercial properties, with a diversification into data centre warehousing and hospitality. Additionally, the company has 88 million square feet of real estate under planning and development.
A person familiar with the matter stated that with EPIP continuing to thrive as a hub for IT, biotech, and manufacturing industries, the campus is well-positioned to attract significant tenants in the years ahead. This strategic acquisition further reinforces Sattva's commitment to capitalising on Bengaluru's growing prominence as India's leading business and technology hub.
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