Singapore’s CapitaLand Investment (CLI) has revealed its intention to more than double its funds under management (FUM) in India by 2028, aiming to grow its current FUM of S$7.4 billion (INR 458.8 billion) as of June 30.
This initiative is part of CLI’s broader objective to achieve S$200 billion in FUM globally by 2028.
This major investment announcement by the prominent Singaporean group coincides with PM Narendra Modi’s arrival in Singapore. The group plans to invest approximately Rs 90,000 crore over the next four years.
The High Commissioner of Singapore shared on X, “CapitaLand, one of Asia’s largest diversified real estate groups, intends to more than double its funds under management in India to over S$14.8 billion (>INR 90,280 Cr) by 2028.”
The announcement aligns with CLI’s 30th anniversary in India, highlighting the group’s confidence in the country’s growth potential and its strategic focus on geographic diversification.
CLI’s journey in India began three decades ago with the development of its first IT park, International Tech Park Bangalore (ITPB), through Ascendas. In 2015, Ascendas merged with Singbridge to create Ascendas-Singbridge, which subsequently merged with CapitaLand in 2019. After CapitaLand’s restructuring, CLI was listed in 2021.
**What Does It Mean?**
CapitaLand Investment, a leading global real estate investment manager, plans to significantly boost its investments in India by 2028, signaling strong confidence in the country’s economic and real estate sectors.
This increase in foreign investment can drive job creation, economic growth, and infrastructure development in India. CapitaLand’s expansion could positively impact the Indian economy by generating a ripple effect.
Moreover, an influx of foreign investment can heighten competition among developers, potentially leading to higher-quality projects, lower prices, and enhanced customer service.
Overall, CapitaLand’s decision to expand its investments in India is a promising indicator for the country’s real estate market and economy. It underscores the growing confidence of international investors in India’s potential and highlights opportunities for real estate development and growth.
**PM Modi’s Visit to Singapore**
On his fifth visit to Singapore and the first since 2018, PM Modi will meet with Singapore President Tharman Shanmugaratnam, as well as former Prime Ministers Lee Hsien Loong and Goh Chok Tong. During the trip, he will participate in a business roundtable with local business leaders and engage in discussions with key players in the semiconductor industry.
