Singapore Firm CapitaLand To Multifold Its Investments In India By 2028

CapitaLand Investment Limited (CLI), a real asset manager, said that it had a target to more than double its funds under management (FUM) in its core market India by 2028, up from USD 7.4 billion (Rs 458.8 billion) as at 30 June 2024.  This will contribute to CLI’s global target of achieving USD 200 billion in FUM by 2028, as per a press release.  

CLI declared its growth strategies to achieve the FUM target for India as it celebrates its 30th anniversary with business partners, investors and staff in Mumbai today.  

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 per cent 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 USD 7.4 billion in India by 2028.  This is also aligned with our priority on geographical diversification to achieve better capital rebalancing.”  

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.

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.”