In a significant boost to its operations in India, Singapore-based CapitaLand Investment has unveiled ambitious plans to more than double its funds under management (FUM) in the country by 2028. The announcement coincides with Prime Minister Narendra Modi’s visit to Singapore, highlighting the strengthening economic ties between the two nations.
CapitaLand Boosts India Investment Plans
CapitaLand aims to increase its FUM in India from the current S$7.4 billion (Rs 45,670 crore) to over S$14.8 billion (Rs 90,280 crore) by the end of 2028. This expansion is part of the company’s broader global strategy, with its total FUM projected to exceed S$200 billion worldwide during the same period. This move underscores CapitaLand’s deepening commitment to the Indian market.
Lee Chee Koon, Group CEO of CapitaLand, emphasized that India is becoming a key destination for global corporations and institutional investors seeking high-quality real assets. To leverage this growing demand, CapitaLand is looking into new investment opportunities in renewable energy and real estate private credit within the country. The company’s strategy aims to capitalize on India’s dynamic economic landscape and expanding infrastructure needs.
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In a recent development, CapitaLand launched a new fund specifically for business park development in India. This initiative is expected to contribute an additional S$700 million to its FUM, further solidifying the company’s presence in the region.
Modi’s Visit Highlights India-Singapore Ties
Prime Minister Narendra Modi’s visit to Singapore underscores the strengthening economic relationship between India and the city-state. During his two-day trip, Modi will engage with Singaporean Prime Minister Lawrence Wong, President Tharman Shanmugaratnam, and other prominent leaders. This visit highlights Singapore’s role as a crucial trading partner and investor for India.
Singapore remains one of India’s largest trading partners, accounting for 3.2% of India’s total trade. In the 2024 fiscal year alone, India imported goods worth $21.2 billion from Singapore, while exports amounted to $14.4 billion. Additionally, Singapore is the top source of foreign direct investment (FDI) into India, with cumulative inflows surpassing $160 billion since 2000. This represents nearly a quarter of all FDI into India.
Lee Chee Koon noted, ‘The growing demand for quality real assets from global corporations and institutional investors is a testament to India’s robust market potential. We are excited about the opportunities in renewable energy and real estate private credit as we expand our footprint in India.’
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