Singapore: Singapore-based real estate giant CapitaLand has announced plans to double its investment in India to over Rs 90,280 crore by 2028, according to a statement by Simon Wong, Singapore’s High Commissioner to India. Wong shared the news on X, emphasising the continued commitment of Singaporean companies to investing in India.
CapitaLand, one of Asia’s largest diversified real estate groups, aims to increase its funds under management (FUM) in India to more than SGD 14.8 billion (over INR 90,280 crore) by 2028, as reported by The Edge newspaper. This strategic move follows Indian Prime Minister Narendra Modi's recent visit to Singapore, which focused on strengthening the India-Singapore partnership and encouraging further investment from the Southeast Asian nation.
As of June 30, CapitaLand Investment (CLI) manages FUM worth USD 7.4 billion (approximately INR 45,880 crore) in India. The company’s goal to more than double this figure aligns with its broader objective of achieving USD 200 billion in global FUM by 2028.
"India is a key market for us and a significant contributor to CLI’s overall business," said Lee Chee Koon, Group CEO of CLI, in the report. He highlighted India’s rapid economic growth, noting that the country’s GDP is expected to increase by 7% in 2024 and that it is on track to become the world’s third-largest economy within the next five years. This economic trajectory is attracting significant interest from global corporations and institutional investors in high-quality real estate assets.
Additionally, Lee expressed confidence in the company’s ability to more than double its current FUM in India by 2028, citing strong market fundamentals and CLI’s deep expertise in the region. This expansion is also part of the company’s broader strategy to achieve better capital rebalancing through geographical diversification.
As per reports, Sanjeev Dasgupta, CEO of CLI India, reiterated the immense potential that India holds for the company. He outlined plans to drive growth through the listed CapitaLand India Trust (CLINT) and private funds. CLI has already established four private funds focused on logistics and business parks and sees further opportunities in data center funds, particularly given India’s rapidly growing digital economy.
CapitaLand’s involvement in India dates back 30 years, beginning with the development of the International Tech Park Bangalore (ITPB) through its subsidiary, Ascendas. Ascendas later merged with Singbridge in 2015 to form Ascendas-Singbridge, which subsequently merged with CapitaLand in 2019. Following the restructuring of CapitaLand, CLI was listed as a separate entity in 2021. Today, the group operates 14 business and IT parks across major Indian cities, including Bangalore, Chennai, Hyderabad, Pune, Mumbai, and Gurgaon, covering a total of 23.5 million square feet.
CLI also noted the significant opportunities in India’s real estate debt market, which is expected to present a USD 170 billion financing opportunity between 2024 and 2026, driven by the increasing demand for residential construction finance.
Source-PTI
FIRST Business Portal addressing the potential of business capability of North East Region.
