CapitaLand Partners with Japanese Firm to Complete Fundraising for India Real Estate Project
CapitaLand has successfully secured a commitment from Daibiru Corporation, a Japanese real estate subsidiary, to finalize the fundraising for its second real estate vehicle in India. This strategic partnership marks a significant milestone in CapitaLand's
CapitalandDaibiru CorporationReal EstateIndiaFundraisingReal EstateNov 05, 2024
CapitaLand has been actively investing in India for over a decade, with a focus on residential, commercial, and integrated developments. The company’s first real estate vehicle in India, launched in 2016, has been a resounding success, leading to the decision to launch a second vehicle to capitalize on the growing demand for high-quality real estate.
Daibiru Corporation, the real estate subsidiary of Japan’s Daibiru Group, brings a wealth of experience and expertise in the real estate sector. The company has a strong track record of successful projects in Japan and has been expanding its footprint in Asia, making it a valuable partner for CapitaLand.
The fundraising for the second real estate vehicle is expected to be completed in the next few months, with a target corpus of $500 million. This fund will primarily focus on Tier 1 cities in India, where the demand for quality real estate is robust. The investment strategy will include both greenfield and brownfield projects, with a focus on mixed-use developments that combine residential, commercial, and retail spaces.
CapitaLand’s Chief Executive Officer, Lee Chee Koon, expressed his enthusiasm about the partnership. 'We are excited to partner with Daibiru Corporation to establish our second real estate vehicle in India. This collaboration aligns with our strategy to expand our footprint in key markets and deliver high-quality projects that meet the evolving needs of our customers.'
Daibiru Corporation’s President and CEO, Taro Sato, also shared his optimism. 'We are thrilled to join forces with CapitaLand, a renowned player in the global real estate market. Our combined expertise and resources will enable us to create value for our investors and contribute to the development of India’s real estate sector.'
The partnership is expected to leverage CapitaLand’s extensive local knowledge and strong relationships in India, along with Daibiru Corporation’s financial strength and developmental capabilities. This synergistic approach is anticipated to drive the success of the second real estate vehicle and further enhance CapitaLand’s presence in the Indian market.
In recent years, the Indian real estate market has shown significant growth, driven by increasing urbanization, rising disposable incomes, and government initiatives like 'Housing for All by 2022.' CapitaLand’s strategic focus on high-quality, integrated developments aligns well with these trends, making it well-positioned to capitalize on the opportunities in the market.
The successful completion of the fundraising is a testament to the confidence that international investors have in the Indian real estate market and CapitaLand’s ability to deliver on its commitments. With this new vehicle, CapitaLand aims to continue its legacy of innovation and excellence, setting new standards in the Indian real estate landscape.
Frequently Asked Questions
Who is CapitaLand?
CapitaLand is one of the largest diversified real estate groups headquartered in Singapore. It has a strong presence in residential, commercial, and integrated developments, with operations spanning across multiple countries.
What is Daibiru Corporation?
Daibiru Corporation is a leading Japanese real estate subsidiary of the Daibiru Group. It has a strong track record of successful projects in Japan and is expanding its footprint in Asia.
What is the target corpus for CapitaLand’s second real estate vehicle in India?
The target corpus for CapitaLand’s second real estate vehicle in India is $500 million.
What is the focus of the second real estate vehicle?
The focus of the second real estate vehicle is on Tier 1 cities in India, with an emphasis on mixed-use developments that combine residential, commercial, and retail spaces.
What are the key drivers of growth in the Indian real estate market?
The key drivers of growth in the Indian real estate market include increasing urbanization, rising disposable incomes, and government initiatives such as 'Housing for All by 2022.'
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