[GAGA REALTY] [JOINT VENTURE] [GAGA HOMES]
Singapore-based global institutional investor CapitaLand Investment plans to more than double the funds under management in its core market of India by 2028 from S$7.4 billion as of June-end. The proposed investments in India will contribute to the Asian capital manager’s global target of achieving S$200 billion in funds under management over the next four years.CapitaLand is also looking to diversify its investment footprint in India by foraying into real estate private credit and renewable energy. This strategic move aims to leverage emerging opportunities within these sectors, aligning with both global trends and local market dynamics.”India is a strategic market for us and a key contributor to our overall business. India has been one of our fastest growing markets, where our investments have tripled in the last seven years. With India’s GDP forecasted to grow 7% in 2024 and its trajectory to be the world’s third-largest economy in the next five years, the country is attracting demand from global corporations and institutional investors for quality real assets,” said Lee Chee Koon, group CEO, CapitaLand.CapitaLand entered the data centre market in India in 2021 to exploit thriving demand for data and need for high quality assets. Through CapitaLand India Trust (CLINT), an India-focused property trust listed in Singapore, it is already developing a data centre each in Mumbai, Chennai, Hyderabad, and Bengaluru, with a total gross power capacity of 244 megawatts.CapitaLand, with a portfolio of 27 data centres globally, has vertically-integrated data centre capabilities, from investment, design and development to leasing and operations. Its first two data centres in India, located in Navi Mumbai and Hyderabad, are slated to begin operations in 2025.CapitaLand is also looking to raise $200-$250 million through a fund to invest in India’s burgeoning data centre sector. The fund is expected to be concluded in the next few months and it is expected to buy a 33% stake in the four Indian data centres currently held by the listed trust.
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