CapitaLand Investment Expands into India with Major Real Estate Projects

Singapore’s real estate management firm, CapitaLand Investment Ltd (CLI), has made a significant move into India with the launch of its first data centre in Navi Mumbai. The company announced an investment of more than ₹9,200 crore (2.3-billion Singaporean dollars) by 2030 to fuel its growth in two key markets – Mumbai and Pune. This investment will focus on areas like data centres, logistics, and industrial parks.

The company’s growth strategy for India includes increasing its funds from 8 billion Singaporean dollars to 15 billion Singaporean dollars by 2028, as stated in a company press release. This ambitious plan underscores CLI’s commitment to expanding its footprint in the Indian real estate market.

Tuesday’s data centre launch was attended by high-profile guests, including Singapore Deputy Prime Minister Gan Kim Yong, who is also the Minister for Trade and Industry; Jeffrey Siow, the Acting Minister for Transport and Senior Minister of State for Finance; and Maharashtra Chief Minister Devendra Fadnavis. Other notable attendees included Manohar Khiatani, Chairman of CapitaLand India Trust (CLINT) and Senior Executive Director of CLI, and Sanjeev Dasgupta, Chief Executive Officer of CLI India.

“India is a core market for CLI, and Maharashtra, with its strong economic fundamentals and well-developed IT and industrial ecosystem, presents significant opportunities for us to grow our footprint,” said Dasgupta. This statement highlights the strategic importance of the Indian market for CLI.

CLI first entered India in 2013 with the launch of the International Tech Park at Pune’s Hinjawadi, developed in partnership with the Maharashtra Industrial Development Corporation (MIDC). Over the past decade, the company has made significant inroads in Mumbai and Pune, with investments of over ₹6,800 crore across 10 areas, including business parks, data centres, and logistics facilities.

Across India, CLI has expanded its portfolio with investments in over 55 IT and business parks, co-working spaces, industrial, logistics, lodging, and data centre assets across eight cities: Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Kolkata, Mumbai, and Pune. In Maharashtra, CLI’s presence is particularly strong, with five operational business parks totaling 9.7 million square feet of leasable area.

Additionally, CLI plans to add another 4.5 million square feet in the state’s key commercial hubs. The company is also developing logistics projects totaling 17 million square feet under the Ascendas-Firstspace initiative. These projects are expected to further strengthen CLI’s position in the Indian market and contribute to the region’s economic development.

CLI’s strategic investments in India reflect the growing importance of the country in the global real estate landscape. With a focus on technology and infrastructure, the company is well-positioned to capitalize on the opportunities presented by India’s rapidly growing economy and urbanization.