CapitaLand To Invest S$ Bln In Maharashtra By 2030

(RTTNews) - CapitaLand Investment Ltd. (CLILF, 9CI.SI), a Singapore-based real estate investment manager, announced on Wednesday that it has signed a Memorandum of Understanding with the Maharashtra government to invest more than INR 19,200 crore or 2.83 billion Singapore dollars by 2030 to expand its presence in Mumbai and Pune.

The company began its operation in Maharashtra 2013, since then, it has invested over INR 6,800 crore or 1 billion Singapore dollars in Mumbai and Pune across 10 assets, including business parks, data centres, and logistics facilities.

The company aims to grow its funds under management from over 8 billion Singapore dollars to about 15 billion Singapore dollars by 2028.

The announcement was made during the launch of CapitaLand Investment's first data centre in India, located in Navi Mumbai.

The event was attended by Singapore's Deputy Prime Minister and Trade Minister Gan Kim Yong, Acting Transport Minister and Senior Minister of State for Finance Jeffrey Siow, and Maharashtra Chief Minister Devendra Fadnavis, along with senior executives from CapitaLand and government officials.

CapitaLand is currently trading 2.55% higher at $2.8200 on the Stock Exchange of Singapore.