CapitaLand sells Gurgaon office asset to EAAA Alternatives

Singapore-based CapitaLand has sold a 1.9 million sq ft commercial property in Gurugram to EAAA Alternatives for Rs 2,050 crore, as it looks to churn capital through major exits and expand its portfolio.

“CapitaLand’s exits come against a backdrop of evolving demand dynamics in India’s office markets, where hybrid work patterns and selective occupier preferences are reshaping valuations and capital flows,” said a source close to the development.

The property, International Tech Park in Gurugram, houses marquee tenants such as Optum, Stryker, and Zomato.

Earlier this year, CapitaLand India Trust (CLINT) divested two major IT park assets — CyberVale in Chennai and CyberPearl in Hyderabad — for approximately ₹1,103 crore (about S$161.7 million).

This marked CLINT’s first major exit since its 2007 listing and formed a key part of its capital recycling strategy to unlock asset value and strengthen financial flexibility.

CBRE, the deal adviser on the transaction, declined to comment. Edelweiss EAAA and CapitaLand did not comment on the story.

CapitaLand’s broader portfolio actions in India go beyond outright asset sales. In late 2025, CLINT agreed to sell 20.2% stakes in three under-construction data centre assets to the CapitaLand India Data Centre Fund (CIDCF) for around ₹702 crore, reflecting another facet of its strategy to monetise value while retaining exposure to high-growth sectors such as data infrastructure.

“Divesting older or non-core assets allows investors to redeploy capital into higher-growth opportunities — including data centres, logistics, and emerging office precincts — while improving balance-sheet flexibility and enhancing unitholder returns,” said one of the people involved in the deal.

For EAAA Alternatives, the acquisition is part of a broader push into Indian office and real assets. The alternative asset management arm of the Edelweiss Group has been active across multiple commercial real estate deals, including the acquisition of large office space in Bengaluru’s Greenheart Tech Park through its Rental Yield Plus Fund, along with other investments aimed at building a diversified, income-producing portfolio.

Edelweiss’s alternatives business has also been in a fundraising phase, with recent reports indicating that its multi-strategy real assets fund has secured over ₹2,500 crore, underscoring strong investor interest in diversified real asset strategies within India’s alternative investment space.

Experts say that as alternative asset managers expand their footprint and raise capital, the market is likely to see continued activity in both primary and secondary office markets through 2026.