CapitaLand Investment Limited (CLI), a leading global real estate investment and management company, has signed a landmark Memorandum of Understanding (MoU) with the Maharashtra Government to invest over ₹19,200 crore (S$2.83 billion) by 2030, significantly boosting its presence in Mumbai and Pune. This strategic investment will accelerate CLI’s expansion across high-growth sectors such as business parks, data centres, logistics facilities, and industrial hubs, aligning with India’s rapid urbanisation, digital transformation, and infrastructure growth.
The announcement was made during the inauguration of CLI’s first India data centre in Navi Mumbai, attended by top dignitaries including Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow, and Maharashtra Chief Minister Shri Devendra Fadnavis. Senior leaders from CLI, including Chairman of CapitaLand India Trust (CLINT) Manohar Khiatani and CEO of CLI India Sanjeev Dasgupta, were also present.
CLI’s journey in Maharashtra began in 2013 with the launch of the International Tech Park Pune, Hinjawadi (ITPP-H), developed in collaboration with the Maharashtra Industrial Development Corporation (MIDC). Over the past decade, the company has invested over ₹6,800 crore (S$1 billion) in 10 premium assets, establishing a strong foothold in the state’s commercial and industrial landscape.
The announcement was made during the inauguration of CLI’s first India data centre in Navi Mumbai, attended by top dignitaries including Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow, and Maharashtra Chief Minister Shri Devendra Fadnavis. Senior leaders from CLI, including Chairman of CapitaLand India Trust (CLINT) Manohar Khiatani and CEO of CLI India Sanjeev Dasgupta, were also present.
CLI’s journey in Maharashtra began in 2013 with the launch of the International Tech Park Pune, Hinjawadi (ITPP-H), developed in collaboration with the Maharashtra Industrial Development Corporation (MIDC). Over the past decade, the company has invested over ₹6,800 crore (S$1 billion) in 10 premium assets, establishing a strong foothold in the state’s commercial and industrial landscape.
The new investments are part of CLI’s broader India growth strategy, targeting an increase in assets under management from S$8 billion to S$15 billion by 2028. These funds will be channelled into creating state-of-the-art business parks, sustainable data centres, advanced logistics parks, and modern industrial facilities, reinforcing Maharashtra’s role as a hub for IT services, manufacturing, digital infrastructure, and innovation.
Sanjeev Dasgupta, CEO, CLI India emphasised India’s strategic importance for CLI, noting Maharashtra’s robust economic fundamentals, skilled workforce, and thriving IT and industrial ecosystem. He said, “India is a core market for CLI, and Maharashtra, with its strong economic fundamentals and well-developed IT and industrial ecosystem, presents significant opportunities for us to grow our footprint. The state has been a steadfast partner in our growth journey over the past decade, and we value the strong support and collaboration. We will continue to scale our investments in Maharashtra through our listed trust, CLINT; our private funds; and the Ascendas-Firstspace platform. We look forward to strengthening our partnership and contributing further to Maharashtra’s commercial and industrial growth.”
CLI already operates five large-scale business parks in Maharashtra with a combined leasable area of 9.7 million sq ft, with plans to add 4.5 million sq ft more. Its data centre portfolio in India spans Mumbai, Bangalore, Chennai, and Hyderabad, with a total capacity of 244 MW to meet rising demand for cloud computing, AI, and digital services. In the logistics and industrial space, CLI manages over 6.5 million sq ft in Mumbai and Pune, with a development pipeline of 17 million sq ft catering to e-commerce, manufacturing, and 3PL demand.
With over three decades of presence in India and a diversified portfolio of 55+ assets across eight major cities, CLI combines global expertise with deep local market knowledge to deliver world-class, sustainable real estate solutions. This investment marks a significant step in strengthening Maharashtra’s position as a leading economic powerhouse while reinforcing CLI’s leadership in India’s real estate, infrastructure, and digital economy sectors.
