CapitaLand Plans Big Investments in India as Prime Minister Modi Visits Singapore
New Delhi, India – Ahead of Prime Minister Narendra Modi’s visit to Singapore, CapitaLand Investment Limited (CLI) has announced plans to more than double its funds under management (FUM) in India by 2028. The company aims to increase its FUM from SD 7.4 billion (Rs 458.8 billion) as of June 30, 2024.
Celebrating 30 Years in India
CLI celebrated its 30th anniversary in Mumbai with business partners, investors, and staff. Lee Chee Koon, Group Chief Executive Officer of CLI, emphasized India’s strategic importance, noting that investments in the country have tripled in the last seven years. He highlighted India’s forecasted GDP growth of 7% in 2024 and its potential to become the world’s third-largest economy in the next five years.
Growth Strategies
Sanjeev Dasgupta, CEO of CLI India, outlined plans to drive growth through the CapitaLand India Trust (CLINT) and private funds. CLI has established four private funds across logistics and business parks and sees opportunities in data center funds due to India’s growing digital economy.
Expanding Presence
CLI entered India 30 years ago with the development of the International Tech Park Bangalore (ITPB). The company now operates 14 business and IT parks, offering 23.5 million square feet of space across key cities like Bangalore, Chennai, Hyderabad, Pune, Mumbai, and Gurgaon. CLI plans to develop its land bank of over 16 million square feet to meet the rising demand for premium office spaces.
Logistics and Industrial Sector
Since entering the logistics and industrial sector in 2016, CLI has grown its portfolio to 9.1 million square feet. The company plans to expand further by seeding new private funds and leveraging its logistics platform, Ascendas-Firstspace (AFS).
Data Centers and Lodging
CLI ventured into the data center market in 2021 and is developing four state-of-the-art data centers in Mumbai, Chennai, Hyderabad, and Bangalore. The first data centers are expected to begin operations by 2025. In the lodging sector, CLI’s business under The Ascott Limited operates seven properties across six cities in India, with plans to open eight more properties over the next three to four years.
Future Opportunities
CLI is also exploring opportunities in renewable energy and real estate private credit in India. The company has a portfolio of over 40 IT and business parks, industrial, logistics, lodging, and data center assets across eight cities, including Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Kolkata, Mumbai, and Pune.
CapitaLand Investment’s portfolio spans the globe, with operations in more than 40 countries and over 260 cities.
Doubts Revealed
CapitaLand Investment Limited (CLI) -: CapitaLand Investment Limited, or CLI, is a big company that invests in buildings and properties. They are based in Singapore and work in many countries around the world.
Prime Minister Modi -: Prime Minister Modi is the leader of India. His full name is Narendra Modi, and he helps make important decisions for the country.
SD 7.4 billion -: SD stands for Singapore Dollars, which is the money used in Singapore. 7.4 billion Singapore Dollars is a very large amount of money.
GDP growth -: GDP stands for Gross Domestic Product. It is a way to measure how much money a country makes from all the goods and services it produces. When GDP grows, it means the country is making more money.
business parks -: Business parks are special areas where many companies have their offices and buildings. They are designed to help businesses work together and grow.
logistics -: Logistics is about planning and managing how goods and products are moved from one place to another. It includes things like transportation and storage.
data centers -: Data centers are large buildings that store lots of computer servers. These servers keep important information and help run websites and online services.
lodging -: Lodging means places where people can stay, like hotels or guest houses. It is part of the hospitality industry.
renewable energy -: Renewable energy comes from natural sources that can be used again and again, like sunlight, wind, and water. It is better for the environment than using fossil fuels.
real estate private credit -: Real estate private credit is when companies lend money to people or other companies to buy or build properties. It is a way to invest in real estate without owning the buildings directly.
