Last month, International Tech Park Bangalore (ITPB) was bustling with activity, mirroring a broader trend in India where office demand is surging. Singapore-headquartered CapitaLand Investment (CLI), which operates ITPB, is capitalizing on this momentum with plans to double its $5.7 billion funds under management in India by 2028. This strategy includes investments in office parks, logistics, industrial real estate, data centers, and exploring new areas like renewable energy and real estate private credit.
CLI’s expansion in India is part of a strategic shift away from China, its second-largest market, due to challenges like trade tensions and a real estate crisis. As a result, CLI is diversifying its investments across other Asian markets, including India. Since merging with Ascendas-Singbridge in 2019, CLI has expanded its footprint in India with a focus on scaling its office and logistics sectors.
In 2024, India set a new benchmark with an office leasing high of 79 million sq. ft across nine cities, driven by global capability centers like Amazon and Deloitte. Logistics is also seeing growth, with CLI’s Ascendas Firstspace becoming the third largest platform for industrial spaces in India.
Additionally, CLI is investing in data centers, renewable energy, and private credit, aiming to establish a comprehensive portfolio. With strong backing from Singapore’s state investor Temasek Holdings and extensive operational expertise, CLI plans to meet its ambitious targets in India, leveraging new fund management opportunities and strategic acquisitions. As India’s market presents lucrative opportunities, CLI’s expansion aligns with favorable market conditions and burgeoning demand across sectors.
Original Source: https://www.livemint.com/companies/capitaland-investment-china-real-estate-ascendas-firstspace-warehousing-logistics-gcc-11739189921466.html
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Publish Date: 2025-02-10 18:36:00
