Mindspace Business Parks REIT announced on Monday that its subsidiary Gigaplex Estate has entered an agreement to sub-lease around 6.3 lakh square feet of space in Mumbai.
The agreement has been signed with a data centre operator, although the name of the company wasn’t disclosed.
A regulatory filing confirms the lease signed for the Mindspace unit at Airoli West.
Mindspace said that Mumbai will stand to benefit from this new venture given the fact that internet usage is only growing while the data localisation norms are expected to provide a big boost as well.
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Mindspace REIT is only the country’s second Real Estate Investment Trust (REIT) and is sponsored jointly by real estate firm K Raheja Corp and investment firm Blackstone.
Mindspace REIT was listed in 2020 after managing to raise ₹4,500 crores via public issue.
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