CapitaLand Invests Big in India Ahead of PM Modi's Singapore Visit
Singapore's real estate giant CapitaLand announces $14.8 billion investment in India by 2028, coinciding with PM Modi's visit to Singapore.
CapitalandIndiaSingaporeReal EstateInvestmentReal EstateSep 04, 2024
CapitaLand aims to increase its FUM in India from the current S$7.4 billion (Rs 45,670 crore) to over S$14.8 billion (Rs 90,280 crore) by the end of 2028. This expansion is part of the company’s broader global strategy, with its total FUM projected to exceed S$200 billion worldwide during the same period.
Lee Chee Koon, Group CEO of CapitaLand, emphasized that India is becoming a key destination for global corporations and institutional investors seeking high-quality real assets. To leverage this growing demand, CapitaLand is looking into new investment opportunities in renewable energy and real estate private credit within the country.
The company’s strategy aims to capitalize on India’s dynamic economic landscape and expanding infrastructure needs. In a recent development, CapitaLand launched a new fund specifically for business park development in India. This initiative is expected to contribute an additional S$700 million to its FUM, further solidifying the company’s presence in the region.
Prime Minister Narendra Modi’s visit to Singapore underscores the strengthening economic relationship between India and the city-state. During his two-day trip, Modi will engage with Singaporean Prime Minister Lawrence Wong, President Tharman Shanmugaratnam, and other prominent leaders.
Singapore remains one of India’s largest trading partners, accounting for 3.2% of India’s total trade. In the 2024 fiscal year alone, India imported goods worth $21.2 billion from Singapore, while exports amounted to $14.4 billion. Additionally, Singapore is the top source of foreign direct investment (FDI) into India, with cumulative inflows surpassing $160 billion since 2000.
Lee Chee Koon noted, ‘The growing demand for quality real assets from global corporations and institutional investors is a testament to India’s robust market potential. We are excited about the opportunities in renewable energy and real estate private credit as we expand our footprint in India.’
Frequently Asked Questions
What is CapitaLand's investment plan for India?
CapitaLand aims to increase its funds under management (FUM) in India from S$7.4 billion to over S$14.8 billion by 2028.
What is the significance of PM Modi's visit to Singapore?
PM Modi's visit to Singapore highlights the strengthening economic relationship between India and Singapore, with Singapore being one of India's largest trading partners and the top source of foreign direct investment (FDI) into India.
What new investment opportunities is CapitaLand exploring in India?
CapitaLand is looking into new investment opportunities in renewable energy and real estate private credit within India.
What is the expected contribution of CapitaLand's new fund for business park development in India?
The new fund is expected to contribute an additional S$700 million to CapitaLand's FUM in India.
What is the current trade relationship between India and Singapore?
Singapore is one of India’s largest trading partners, accounting for 3.2% of India’s total trade, with India importing goods worth $21.2 billion from Singapore and exporting $14.4 billion in the 2024 fiscal year.
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