Singapore Real Estate Fund CapitaLand to Double India Investments to USD 11.3 Billion by 2028, Expands into Renewables and Private Credit

Mumbai: Singapore’s leading real estate manager, CapitaLand, is gearing up to double its funds under management (FUM) in India, aiming for a remarkable SGD 14.8 billion (USD 11.3 billion) by 2028. This aggressive move aligns with its global goal of reaching SGD 200 billion (USD 153 billion) FUM within the same period.

Diversification into Renewables and Private Credit

Celebrating its 30th anniversary in India, CapitaLand has already made significant investments in IT parks, logistics, lodging, and data centers. Now, the company is actively exploring opportunities in the renewable energy sector and real estate private credit, seeking to broaden and diversify its income streams.

Challenges Persist: Taxation, Capital Repatriation, and Currency Volatility

Despite its bullish outlook, CapitaLand remains cautious about certain market hurdles in India, including taxation policies, capital repatriation issues, and currency fluctuations. These are common concerns for many foreign investors entering the Indian market.

India: A Strategic Market for CapitaLand

According to CEO Lee Chee Koon, India is a vital market for CapitaLand’s long-term strategy. “Our investments in India have tripled over the past seven years. With our extensive experience and the favorable market conditions, we’re confident in more than doubling our current FUM of SGD 7.4 billion (USD 5.7 billion) by 2028,” said Koon.

India's Growing Share in CapitaLand's Portfolio

When CapitaLand acquired Ascendas from Temasek in 2019, which pioneered business parks in India, the country accounted for just 4% of CapitaLand’s total assets. Today, that number has risen to 7%, and it continues to climb as the company deepens its commitment to the Indian market.