CapitaLand Investment Aims to Double Funds Under Management in India by 2028
CapitaLand Investment, a Singapore-based real estate investment manager, has announced ambitious plans to more than double its funds under management (FUM) in India by 2028. This significant expansion aligns with Prime Minister Narendra Modi's recent visit to Singapore, highlighting the growing economic ties between the two nations.
CapitaLand currently manages S$100 billion in FUM globally, with plans to reach S$200 billion by 2028. This ambitious goal includes more than doubling its FUM in India, reaching S$14.8 billion (Rs 90,280 crore) by the same year. This move demonstrates CapitaLand's commitment to the Indian market and its belief in the potential of the country's real estate sector.
Chee Koon, CEO of CapitaLand Group, acknowledges the increasing interest from global corporations and institutional investors in India's high-quality real assets. To capitalize on this demand, CapitaLand is exploring new opportunities in renewable energy and real estate private credit within India. Additionally, the company recently launched a fund for business park development in India, projected to add another S$700 million to its FUM and further strengthen its footprint in the region.
Prime Minister Modi's visit to Singapore underscores the growing economic partnership between the two countries. During his two-day visit, Modi will meet with key Singaporean leaders, including Prime Minister Lawrence Wong and President Tharman Shanmugaratnam, to discuss further collaboration and strengthen bilateral ties.
Singapore remains one of India's largest trading partners, accounting for 3.2% of the country's overall trade. In the 2024 fiscal year, imports from Singapore reached $21.2 billion, while exports totaled $14.4 billion. The city-state is also India's top source of foreign direct investment (FDI), with cumulative inflows exceeding $160 billion since 2000, representing nearly a quarter of all FDI into India.
CapitaLand's expansion plans in India, coupled with the strengthening economic ties between the two nations, paint a promising picture for future collaboration and growth in the region's real estate sector.