Singapore’s CapitaLand to more than double India investments by 2028

Singapore-based global real asset manager CapitaLand Investment Ltd (CLI) plans to more than double its funds under management in India from Singaporean $7.4 billion ($5.45 billion) by 2028, the company said.

This will contribute to CLI’s global target of achieving S$200 billion in FUM in the next four years, the company said as it marked its 30th anniversary with business partners, investors and staff in Mumbai this week.

“India has been one of our fastest growing markets, where our investments have tripled in the past seven years. With India’s GDP forecasted to grow 7% and its trajectory to be the world’s third-largest economy in the next five years, the country is attracting demand from global corporations and institutional investors for quality real assets,” Lee Chee Koon, group chief executive officer at CLI, said.

“Given our deep expertise in the country and the strong tailwinds, we are confident of more than doubling our current funds under management by 2028. This is also aligned with our priority on geographical diversification to achieve better capital rebalancing,” he said.

“Our 30 years of experience and track record in managing a well-diversified portfolio positions us uniquely to capitalize on the growth opportunities in India. Given India’s strategic importance to CLI, we will also actively explore opportunities to enter adjacent business segments, including renewable energy and real estate private credit to further grow and diversify our income streams,” he added.

Sanjeev Dasgupta, chief executive officer at CLI India, said: “India presents tremendous potential for CLI. We have successfully established four private funds across logistics and business parks, and we see opportunities for data center funds in India riding on the country’s fast-growing digital economy.”

“We will drive growth through our listed CapitaLand India Trust (CLINT) and our private funds. We will leverage our operational expertise to grow the value of our assets, further expand our logistics footprint under our established logistics platform, Ascendas-Firstspace (AFS) and scale up our lodging portfolio through CLI’s lodging arm, The Ascott Limited,” he added.

CLI entered India 30 years ago with the development of its first IT park called the International Tech Park Bangalore (ITPB) via Ascendas. Its footprint has since expanded to 14 business and IT parks, offering 23.5 million sq. ft of space across Bangalore, Chennai, Hyderabad, Pune, Mumbai, and Gurgaon, with more than 250,000 professionals working from these parks.

With a current land bank of over 16 million square feet, CLI will accelerate development activities to address the increasing demand for premium office spaces across key metropolitan cities, the company said.
CLINT, the largest India-focused property trust listed in Singapore, will continue to develop and execute forward purchase acquisitions, securing prime assets to ensure a robust pipeline for sustained growth, it added.

CLI will continue to raise third-party capital through new private funds aimed at greenfield developments and value-added strategies, offering strategic investors opportunities to participate in India’s dynamic real estate market. It will also seek joint development and joint venture opportunities with capital partners, along with commercial management partnerships, to expand in India.