New Launch6 May 2025, 11:11 pm
Aster DM Healthcare Ltd Leases Property for New Multi-specialty Hospital in Bengaluru
AI Summary
Aster DM Healthcare Ltd has entered into a lease agreement for a composite property located at Sarjapur Road, Bengaluru, Karnataka. The leased premises will be utilized for setting up a new multi-specialty hospital with an estimated bed capacity of approximately 430 beds. The lease term is 30 years from the lease commencement date with a lock-in period of 30 years for the lessor and 12 years for the lessee. The company will pay rent based on per sq. ft. of chargeable area plus applicable taxes. The total investment required is INR 480 Cr, which will be financed through bank loans and internal accruals.
Key Highlights
- Aster DM Healthcare Ltd has leased a property for a new multi-specialty hospital in Bengaluru.
- The new hospital will have an estimated bed capacity of approximately 430 beds.
- The lease term is 30 years from the lease commencement date with a lock-in period of 30 years for the lessor and 12 years for the lessee.
- The total investment required is INR 480 Cr, which will be financed through bank loans and internal accruals.
- The new hospital is strategically located in South-East Bangalore, an area projected to become the next IT hub in Bangalore.