CapitaLand Boosts India Investment To S$14.8 Billion By 2028 Ahead Of Modi’s Singapore Trip - What It Means?

As Prime Minister Narendra Modi prepares for a historic two-day visit to Singapore starting Wednesday, CapitaLand Investment (CLI) has announced a major expansion in India.

The leading global real estate investment manager revealed plans to more than double its funds under management (FUM) in India by 2028, as reported by Fisrtpost.

CapitaLand Investment to Double Funds in India

CLI's FUM in the country, currently standing at S$7.4 billion (INR 458.8 billion) as of June 30, is set to exceed S$14.8 billion (INR 90,280 crore) within the next four years. This significant investment aligns with CLI's global goal of reaching S$200 billion in FUM by 2028. The commitment to invest approximately INR 90,200 crore underscores CLI's confidence in India's robust economic growth and dynamic real estate sector.

In a statement on X, Singapore's High Commissioner highlighted the milestone, noting, "Singapore's CapitaLand, one of Asia's largest diversified real estate groups, plans to more than double its funds under management in India to more than S$14.8 billion (>INR 90,280 Cr) by 2028."

Singapores CapitaLand, one of Asias largest diversified real estate groups, plans to more than double its funds under management in India to more than S.8 billion (>INR 90,280 Cr) by 2028.

Good to see 🇸🇬 companies doubling down on investments in 🇮🇳! HC Wong https://t.co/2xqROjij7o

— Singapore in India (@SGinIndia) September 4, 2024

The announcement is particularly notable as it coincides with PM Modi's upcoming engagements with the business community in Singapore and his meeting with President Tharman Shanmugaratnam. The timing also marks CLI's 30th anniversary of operations in India.

CLI CEO Lee Chee Koon emphasized India's role as a key growth market for the company, stating, "India has been one of our fastest-growing markets, with our investments tripling in the last seven years." Koon also noted the country's projected GDP growth of 7% in 2024 and its trajectory to become the world's third-largest economy in the next five years, which is attracting global investors to high-quality real assets, as reported by Firstpost.

Looking ahead, CLI plans to explore opportunities in renewable energy and real estate private credit sectors in India. In August, CLI launched a new fund focused on business park development in India, anticipated to add S$700 million to its FUM.

CLI's journey in India began with the development of the International Tech Park Bangalore (ITPB) through its Ascendas division. Following subsequent mergers and restructurings, CLI now manages 14 business and IT parks across major Indian cities including Bangalore, Chennai, Hyderabad, Pune, Mumbai, and Gurugram, spanning a total of 23.5 million square feet, as per media reports.

This latest investment reinforces CLI's long-term commitment to the Indian market and its role as a significant player in the country's real estate landscape.