CapitaLand Investment Limited to Double India Investment to Rs 90,280 Crore by 2028

Global real asset manager CapitaLand Investment Limited (CLI) has announced plans to more than double its funds under management (FUM) in India to $14.8 billion Singapore dollars (Rs 90,280 crore) by 2028, from the current $7.4 billion Singapore dollars. The announcement was made as Indian Prime Minister Narendra Modi commenced his two-day official visit to Singapore.

 

This substantial increase in investment is a significant step toward achieving CLI’s global target of $200 billion Singapore dollars in FUM by 2028. In a statement, CLI emphasized India’s pivotal role in its growth strategy, reflecting the country's growing appeal to global corporations and institutional investors.

 

Singapore's High Commissioner to India, Simon Wong, acknowledged the importance of this move, stating on X (formerly Twitter), "Good to see Singapore companies doubling down on investments in India".

 

CLI’s journey in India began 30 years ago with the development of the International Tech Park Bangalore (ITPB), and since then, its presence has expanded to 14 business and IT parks. These parks collectively offer 23.5 million square feet of space across key cities, including Bengaluru, Chennai, Hyderabad, Pune, Mumbai, and Gurugram, serving over 250,000 professionals.

 

Lee Chee Koon, Group Chief Executive Officer of CLI, highlighted India’s rapid economic growth, stating, "India has been one of our fastest-growing markets, where our investments have tripled in the last seven years. With India’s GDP forecasted to grow 7 percent in 2024 and its trajectory to become the world’s third-largest economy in the next five years, the country is attracting significant demand for quality real assets".

 

As a long-term investor in India, CLI aims to accelerate development activities to meet the rising demand for premium office spaces across metropolitan cities. The company’s current land bank exceeds 16 million square feet, which will be instrumental in driving these expansion efforts.

 

Additionally, CLINT, the largest India-focused property trust listed in Singapore, will continue to develop and secure prime assets, ensuring a robust pipeline for sustained growth. CLI also plans to explore joint development and joint venture opportunities with capital partners, as well as commercial management partnerships, to further its expansion in India.

 

Sanjeev Dasgupta, CEO of CLI India, remarked, "We will leverage our operational expertise to grow the value of our assets, expand our logistics footprint through Ascendas-Firstspace, and scale up our lodging portfolio under The Ascott Limited".