CapitaLand Investment Limited (CLI), a leading global real asset manager, announced on Wednesday that it will significantly increase its investments in India, boosting its funds under management (FUM) in the country to SGD 14.8 billion (Rs 90,280 crore) by 2028.
This move comes as Prime Minister Narendra Modi begins his official two-day visit to Singapore.
This ambitious plan is part of CLI’s broader goal to reach SGD 200 billion in global FUM by 2028.
Singapore’s High Commissioner to India, Simon Wong, praised the development on social media, noting the commitment of Singaporean companies to deepen their investments in India.
CLI’s journey in India began 30 years ago with the establishment of the International Tech Park Bangalore (ITPB).
Since then, the company has expanded its presence to 14 business and IT parks across major cities including Bengaluru, Chennai, Hyderabad, Pune, Mumbai, and Gurugram, encompassing 23.5 million square feet of space and supporting over 250,000 professionals.
Lee Chee Koon, Group Chief Executive Officer of CLI, highlighted India’s rapid growth as a key driver for the investment surge.
“India is one of our fastest-growing markets, with our investments tripling over the past seven years. With a projected GDP growth of 7% in 2024 and its ascent to the world’s third-largest economy, the country is drawing significant interest from global corporations and institutional investors,” he said.
CLI’s current land bank of over 16 million square feet will however be leveraged to meet the growing demand for premium office spaces in major metropolitan areas.
Meanwhile, the company also plans to continue its strategic growth through forward purchase acquisitions and joint ventures, enhancing its presence in India’s real estate sector.
Sanjeev Dasgupta, CEO of CLI India, emphasized the company’s commitment to expanding its footprint.
“We will utilize our operational expertise to enhance asset value, expand our logistics operations under Ascendas-Firstspace (AFS), and grow our lodging portfolio through The Ascott Limited,” he stated.
CapitaLand Investment’s increased focus on India underscores the country’s growing importance in the global real estate market and reflects its continued appeal to international investors.
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