Singapore firm plans Logistics Portfolio Expansion in Tamil Nadu

Singapore based Capital and Investment has unveiled its plans to invest in business parks, a data center and logistics Assets. The company has signed MOUs in this regard with the Tamil Nadu Government in the recently concluded Global Investment summit that concluded in Chennai on January 9th 

In the next five years, the real estate investment manager is expected to put in over Rs. 4500 crore in Radial Road business parks, data center development at Ambattur and logistics portfolio expansion in Chennai through Ascendas First Space.

Headquartered in Singapore, CapitaLand Investment Limited has a strong foothold in Asia. Up till September 2023, CapitaLand had under its management 133 billion Singapore dollars of real estate assets and 90 billion Singapore dollars worth real estate funds which are held through six listed real estate investment trusts and business trusts.

 It has over 27 IT and business parks, industrial, logistics, lodging and data centre assets across seven cities in India – Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Mumbai and Pune.

CLI’s current portfolio in the city includes three business parks (International Tech Park Chennai –Taramani, International Tech Park Chennai – Radial Road and CyberVale), two industrial facilities in Mahindra World City held under CapitaLand India Trust, two logistics and warehouse facilities at Oragadam and Periyapalayammanaged by Ascendas-Firstspace, one coworking space, Bridge+ at ITPC, Taramani, two serviced residences – Somerset Greenways Chennai and Citadines OMR Chennai, and an upcoming data centre in Ambattur.

To date, CLI has invested about S$800 million (approx. 5000 crores) in Chennai and we expect to invest over S$750 (approx. 4500 crore INR) million in the next five years across multiple asset classes, with a special focus on IT parks, logistics, and data centres. CapitaLand Investment Limited (CLI) launched CapitaLand India Growth Fund 2 (CIGF2) – a business park development fund, with a fund valuation of S$525 million to invest in Grade A business parks in prime locations across gateway cities in India. Going by its asset light strategy, CLI intends to maintain a sponsor stake of 20% in the fund, as it grows its funds under management, while maintaining the interest of its investors and partners.