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Singapore’s real estate investment firm, CapitaLand Investment, has announced a significant expansion of its investment in India, aiming to more than double its funds under management in the country by 2028. This bold move, revealed just hours before Prime Minister Narendra Modi’s visit to Singapore, reflects the growing appeal of India as an investment destination.
As of June 30, CapitaLand’s funds under management (FUM) in India stand at S$7.4 billion (approximately $5.66 billion). The company plans to increase this amount significantly as part of its global target to achieve S$200 billion in FUM by 2028. Group CEO Lee Chee Koon emphasized that India’s burgeoning demand from global corporations and institutional investors for quality real estate assets is a key factor driving this investment decision.
“We see immense potential in India’s real estate sector, and we are excited to explore opportunities in renewable energy and real estate private credit segments in the country,” Koon said. Last month, CapitaLand launched a new fund dedicated to business park development in India, which is expected to contribute an additional S$700 million to its funds under management.
Prime Minister Narendra Modi’s visit to Singapore, which commenced on Wednesday, is focused on strengthening the India-Singapore relationship, deepening strategic partnerships, and enhancing bilateral investments. Modi, who arrived in Singapore after concluding his visit to Brunei, will engage with multiple generations of Singapore’s leadership during his two-day visit.
In a statement on X (formerly Twitter), Modi expressed his enthusiasm for the visit, stating, “Landed in Singapore. Looking forward to the various meetings aimed at boosting the India-Singapore friendship. India’s reforms and the talent of our Yuva Shakti make our nation an ideal investment destination. We also look forward to closer cultural ties.”
During his visit, Modi will receive an official welcome at Singapore’s Parliament House and meet with President Tharman Shanmugaratnam. The trip marks Modi’s fifth official visit to Singapore, underscoring the importance of the growing economic and strategic ties between the two nations.
The timing of CapitaLand’s investment announcement highlights the growing synergy between India’s economic reforms and Singapore’s investment interests, reflecting the robust and evolving relationship between the two countries.
Sources By Agencies
