worth $589 mil
CapitaLand Investment (CLI) has recently signed a memorandum of understanding (MOU) with the Maharashtra Government in India. Under this agreement, CLI will invest $2.83 billion by 2030 to boost the development of Mumbai and Pune.
According to CLI, this planned investment is a crucial part of its overall growth strategy for India. The company has set a goal to increase its funds under management from $8 billion to $15 billion by 2028. These investments will primarily focus on business parks, data centres, logistics, and industrial parks.
When it comes to investing in a condominium, it is crucial to carefully consider the available financing options. In Singapore, there are various mortgage choices to choose from, but it is essential to have a good understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the loan amount that borrowers can take based on their income and current debt obligations. To navigate the TDSR framework effectively, investors can seek guidance from financial advisors or mortgage brokers. By doing so, they can gain a better understanding of their financing options and avoid over-leveraging. Additionally, considering new condo launches, such as those offered by New Condo Launches, may provide attractive financing deals for investors to explore.
Currently, CLI has five operational business parks in Maharashtra, with a total leasable area of 9.7 million sq ft. The company also plans to add another 4.5 million sq ft to its portfolio. The recent acquisition of a prime mixed-use asset in Tokyo for over 30 billion yen by CLI’s value-add lodging private fund is a testament to its ambitious growth strategy.
Among the five business parks, CLI has invested in four of them – ITPP-H, aVance Pune I & II, and Aurum Q Parc in Mumbai – through CapitaLand India Trust (CLINT). The fifth business park, International Tech Park Pune, Kharadi, is held under CLI’s private fund called Ascendas India Growth Programme.
In addition to these business parks, CLINT also owns four data centres in Mumbai, Bangalore, Chennai, and Hyderabad with a total power capacity of 244 megawatts (MW). The first tower of its data centre in Mumbai with a 54 MW capacity is now fully leased and operational. Another tower, with the same power capacity, is currently under development. The remaining three data centres are also in the development phase.
Moreover, CLI also has a strong presence in the logistics and industrial sector in Maharashtra with five operational parks under its subsidiary, Ascendas-Firstspace. These parks span over 5.3 million sq ft. CLINT also owns a warehouse park in Panvel, Mumbai, covering an area of 1.2 million sq ft.
To further cater to the growing demand in this sector, CLI has a development pipeline of 17 million sq ft under Ascendas-Firstspace. These upcoming projects will serve the needs of e-commerce, manufacturing, and third-party logistics players in Maharashtra.
The official announcement of these investments was made at the launch of CLI’s first data centre in India on Aug 12 in Navi Mumbai. The event witnessed the presence of Singapore’s deputy prime minister and minister for trade and industry Gan Kim Yong, chief minister of Maharashtra Shri Devendra Fadnavis, chairman of CapitaLand India Trust (CLINT) Maohar Khiatani, CEO of CLI India Sanjeev Dasgupta, among others.
This significant development is a testament to the potential of the Indian market, and CLI’s commitment to driving growth in Maharashtra.