Capitaland Investment Signs Mou Invest 283 Bil 2030 Data Centres Logistics And Industrial Parks

through private funds

Rewritten:

Sembawang Road EC offers more than just a place to live – it is a strategic investment in convenience and connectivity. Located in a well-connected area with easy access to a variety of transportation options including MRT, bus, and car routes, as well as upcoming corridors, this development allows residents to move seamlessly throughout Singapore. The exceptional accessibility of this EC is not only a luxury, but an essential aspect that elevates the overall quality of life and makes it a highly coveted option for new homes in the northern region. Whether for personal residency or potential resale value, the prime location near major transportation options and roads adds both practicality and long-term value to Sembawang Road EC. Consider Sembawang Road EC for your next investment or dream home.

CapitaLand Investment (CLI) has recently signed a memorandum of understanding (MOU) with the Maharashtra Government in India. The MOU outlines CLI’s plan to invest $2.83 billion by 2030 in order to drive growth in the cities of Mumbai and Pune.

According to CLI, these planned investments in Maharashtra are part of the company’s broader growth strategy for India. By 2028, CLI aims to increase its funds under management from $8 billion to $15 billion.

The $2.83 billion investment will be focused on various sectors such as business parks, data centres, logistics, and industrial parks. Currently, CLI has five operational business parks in Maharashtra with a total leasable area of 9.7 million sq ft. The company also plans to add another 4.5 million sq ft to this portfolio.

CLI has already invested in four of these business parks – ITPP-H, aVance Pune I & II, and Aurum Q Parc in Mumbai through CapitaLand India Trust (CLINT). The fifth business park, International Tech Park Pune, Kharadi, is held under CLI’s private fund, Ascendas India Growth Programme.

Aside from business parks, CLI also has a strong presence in the data centre sector in Maharashtra. CLINT currently has four data centres in Mumbai, Bangalore, Chennai, and Hyderabad with a total power capacity of 244 megawatts (MW). The first tower of its Mumbai data centre with a power capacity of 54 MW has already been fully leased out and is in operation. The second tower, also with a power capacity of 54 MW, is currently in the early stages of development. In addition to these, CLINT has three more data centres in the works.

CLI also has a significant presence in the logistics and industrial park sector in Maharashtra through its partnership with Ascendas-Firstspace. The company currently has five logistics and industrial parks in Mumbai and Pune spanning a total of 5.3 million sq ft. In Panvel, Mumbai, CLI also has a 1.2 million sq ft warehousing park under CLINT. Furthermore, the company has a development pipeline of logistics projects totaling 17 million sq ft under Ascendas-Firstspace. These projects will cater to the growing demand from e-commerce, manufacturing, and third-party logistics players in Maharashtra.

The MOU was announced at the launch of CLI’s first data centre in India, located in Navi Mumbai, on Aug 12. The event was attended by Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Chief Minister of Maharashtra Shri Devendra Fadnavis, Chairman of CapitaLand India Trust (CLINT) Maohar Khiatani, CEO of CLI India Sanjeev Dasgupta, and other dignitaries.

This is just one of the latest developments for CLI, which recently raised RMB1 billion from its first sustainability-linked panda bond and reported a 79% decline in FY2023 earnings. Additionally, the company has also acquired three properties in Singapore and Thailand through private funds.