Larsen & Toubro’s (L&T) Real Estate Development subsidiary -- L&T Realty and Singapore-listed CapitaLand India Trust Management, trustee-manager of CapitaLand India Trust (CLINT), have entered into a non-binding term sheet for a commercial platform to develop close to 6 million square feet (0.56 million square metres) of prime office spaces across Bengaluru, Chennai and Mumbai in India.
Under this platform, L&T will build and develop office spaces - while CLINT will market the office spaces. Depending on the completion of these developments, CLINT expects majority of the capital commitment for the projects to start from 2H 2024 onwards. CLINT will acquire the ownership of these properties in a phased manner.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
