Singapore company to invest money in India
Big news came on the day of Prime Minister Narendra Modi’s visit to Singapore. A Singapore company is planning to double its funds in India in the next few years. With this, its investment in the country will exceed Rs 90,000 crore. This plan of the company will start showing its full effect in 2028. Learn about it…
Singapore’s Capital Land, one of Asia’s largest diversified real estate groups, plans to more than double its funds under management in India. This amount will rise to around Rs 90,280 crore by 2028. As of June 30, the firm’s funds under management in India were worth Rs 45,880 crore.
30 years of business in India
Singapore-based Capital Land has announced this goal on the occasion of its 30th anniversary of operations in India. The group’s CEO, Lee Chi Koon, says that India is a strategic market for them. It has a significant contribution to the company’s overall business. India is a fast-growing market, hence the company’s investment has tripled over the past 7 years.
Singapore’s CapitaLand, one of Asia’s largest diversified real estate groups, plans to more than double its funds under management in India to over S$14.8 billion (>INR 90,280 Cr) by 2028.
It’s good to see 🇸🇬 companies doubling their investments in 🇮🇳! HC Wong https://t.co/2xqROjij7o
— Singapore in India (@SGinIndia) September 4, 2024
He said that India’s economic growth rate is estimated to be 7 percent by 2024. And in the next five years, it is moving towards becoming the third largest economy in the world. Demand for quality real estate is increasing in India and hence, investment from global corporates and institutional investors is also increasing.
The company’s business has expanded so much.
Singapore-based Capital Land has listed Capitalland India Trust in India. The company is boosting its investment through this. In addition, the company also has other private funds. The company has set up 4 private funds in India that invest in logistics and business parks. Now the company sees a new need to finance data centers in India, because the digital economy is growing rapidly in India.
About 30 years ago, the company opened its first tech park in India, the “International Tech Park Bangalore”. The company then did this work with Ascendus, which later merged with Synbridge in 2015. After this, that company merged with Capital Land in 2019 and now, in 2021, the company restructured its business in India and included it here.
The company currently has 14 business and IT parks in the country. These are spread across an area of 2.35 million sq ft in Bengaluru, Chennai, Hyderabad, Pune, Mumbai and Gurugram.
