CapitaLand Plans to Double Investments in India as PM Modi Visits Singapore
Singapore's CapitaLand to increase funds under management in India to over $14.8 billion by 2028, as PM Modi visits Singapore, boosting confidence in India's real estate market and economy.
CapitalandIndiaReal EstateInvestmentPm ModiSingaporeReal Estate NewsSep 04, 2024
The announcement coincides with CLI's 30th anniversary in India, reflecting the group's confidence in the country's growth potential and its strategic focus on geographic diversification. CLI's journey in India began 30 years ago with the development of its first IT park, International Tech Park Bangalore (ITPB), through Ascendas.
In 2015, Ascendas merged with Singbridge to form Ascendas-Singbridge, which later merged with CapitaLand in 2019. Following CapitaLand's restructuring, CLI was listed in 2021.
The big investment announcement by the leading Singapore group has come at a time when PM Narendra Modi has landed in Singapore. It will invest around Rs 90,000 crore in the next 4 years.
High Commissioner of Singapore posted on X handle, “Singapore’s CapitaLand, one of Asia’s largest diversified real estate groups, plans to more than double its funds under management in India to more than S$14.8 billion (>INR 90,280 Cr) by 2028.”
The announcement is a promising sign for the country's real estate market and economy. It reflects the growing confidence of international investors in India's potential and highlights the opportunities available for real estate development and growth.
Increased foreign investments can contribute to job creation, economic growth, and infrastructure development in India. CapitaLand's investment plans could have a positive ripple effect on the Indian economy.
The influx of foreign investment can lead to increased competition among developers, potentially resulting in better-quality projects, lower prices, and improved customer service.
Overall, CapitaLand's decision to expand its investments in India is a vote of confidence in the country's economic growth and real estate sector.
PM Modi's visit to Singapore, his fifth visit and the first since 2018, includes meetings with Singapore President Tharman Shanmugaratnam and former Prime Ministers Lee Hsien Loong and Goh Chok Tong. He will also engage in a business roundtable with local business leaders and hold discussions with key semiconductor industry players.
About CapitaLand
CapitaLand is one of Asia's largest diversified real estate groups. Headquartered in Singapore, the group has a presence in over 20 countries and a portfolio that includes residential, commercial, and industrial properties.
Frequently Asked Questions
What is CapitaLand's plan for investment in India?
CapitaLand plans to more than double its funds under management in India to over $14.8 billion by 2028.
What is the significance of CapitaLand's investment in India?
CapitaLand's investment is a vote of confidence in India's economic growth and real estate sector, and is expected to contribute to job creation, economic growth, and infrastructure development.
What is PM Modi's agenda for his visit to Singapore?
PM Modi will meet with Singapore President Tharman Shanmugaratnam and former Prime Ministers Lee Hsien Loong and Goh Chok Tong, and engage in a business roundtable with local business leaders.
How will CapitaLand's investment affect the Indian real estate market?
CapitaLand's investment is expected to lead to increased competition among developers, potentially resulting in better-quality projects, lower prices, and improved customer service.
What is CapitaLand's current presence in India?
CapitaLand has a presence in India through its development of IT parks, including International Tech Park Bangalore (ITPB), and has a portfolio that includes residential, commercial, and industrial properties.
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