CapitaLand Investment will have more than doubled its investments in India by 2028

With its key market being India, CapitaLand Investment Limited (CLI) has set a goal to more than quadruple its funds under management (FUM) by 2028. As of June 30, 2024, FUM in India was S$7.4 billion (INR 458.8 billion).  This will help CLI reach its global goal of S$200 billion in FUM by 2028.  CLI celebrated its 30th anniversary with investors, business partners, and employees. As part of the celebration, the company unveiled its growth initiatives to meet the FUM target for India. 

Lee Chee Koon, Group Chief Executive Officer, CLI said: “India is a strategic market for us and a key contributor to CLI’s overall business.  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% in 2024 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.  Given our deep expertise in the country and the strong tailwinds, we are confident of more than doubling our current FUM of S$7.4 billion in India by 2028.  This is also aligned with our priority on geographical diversification to achieve better capital rebalancing.” 

“Our 30 years of experience and track record in managing a well-diversified portfolio positions us uniquely to capitalise 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. As a long-term investor in India, we not only invest in the assets but also contribute significantly to the economic development of the country.  We actively reach out to global corporations and through our activities and assets, attract many international players to invest and create good quality jobs in India,” added Lee.

Sanjeev Dasgupta, Chief Executive Officer, CLI India said: “India presents tremendous potential for CLI.  We will drive growth through our listed CapitaLand India Trust (CLINT) and our private funds.  We have successfully established four private funds across logistics and business parks, and we see opportunities for data centre funds in India riding on the country’s fast-growing digital economy.  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.  CLI remains focused on delivering sustainable returns to our capital partners as we continue to contribute to India’s vibrant economic landscape and the local community.”

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 square feet of space strategically located across Bangalore, Chennai, Hyderabad, Pune, Mumbai, and Gurgaon, with more than 250,000 professionals working from these parks.

CLI will adopt multi-pronged strategies to expand its business parks portfolio.  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.  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.  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.  CLI will also seek joint development and joint venture opportunities with capital partners, along with commercial management partnerships, to expand in India.  To maximise value creation, CLI is also focusing on redevelopment and intensification strategies within its existing business parks.