SP Infocity houses marquee brands

Singapore-headquartered Mapletree Investments Pte Ltd. has bought over SP Infocity, jointly owned by Canada Pension Plan Investment Board and Shapoorji Pallonji Investment Advisors Pvt. Ltd., a 100% subsidiary of Shapoorji Pallonji and Company Private Limited, for ₹2,500 crore.

“The deal was concluded earlier this week,” said a source in one of the firms that inked the deal. It is learnt that real estate firm Jones Lang LaSalle (JLL) structured the deal.

Spread over 2.7 million sq. ft., SP Infocity, an IT park on MGR Salai, houses some of the big corporate names from across the globe.

Automobile firm Ford runs its global business services from its premises. Other tenants include Amazon, HSBC and BNP Paribas. Freshworks, a start-up, has over 1,000 employees working out of the facility.

When contacted, Rajesh Agarwal, Chief Executive Officer and Managing Director of Shapoorji Pallonji Investment Advisors, said, “I don’t want to comment on this.” Officials from JLL also refused to comment. Senior officials from Mapletree could not be reached for their comments.

Three different sources confirmed the deal and said that it was one of the biggest in the sector in India. As on 31 March, Mapletree owns and manages Singapore $46.3 billion worth properties. It also manages four Singapore-listed real estate investment trusts and six private real estate funds, which hold a diverse portfolio of assets in the Asia Pacific region, the U.K. and the U.S.