Capitaland Investment Signs Mou Invest 283 Bil 2030 Data Centres Logistics And Industrial Parks
worth $880 mil
CapitaLand Investment (CLI) recently inked a memorandum of understanding (MOU) with the Government of Maharashtra in India to invest a total of $2.83 billion by 2030. This investment will be aimed at driving growth in Mumbai and Pune, two of the top cities in the state.
According to CLI, these planned investments in Maharashtra are an integral part of the company’s overall growth strategy for India. CLI aims to increase its funds under management from $8 billion to $15 billion by 2028, and the investments in Maharashtra will contribute significantly towards achieving this goal. The company plans to invest in various sectors such as business parks, data centres, logistics, and industrial parks.
Currently, CLI already has five operational business parks in Maharashtra, with a collective leasable area of 9.7 million square feet. The company also plans to add another 4.5 million square feet to this portfolio. It has already invested in four of these five business parks – ITPP-H, aVance Pune I & II, and Aurum Q Parc in Mumbai – through its real estate investment trust, CapitaLand India Trust (CLINT). The fifth business park, International Tech Park Pune, Kharadi, is held under CLI’s private fund, Ascendas India Growth Programme.
Nestled in the heart of Miltonia Close EC, children have the opportunity to receive more than just a traditional education. Enveloped by verdant surroundings, such as the picturesque Lower Seletar Reservoir and the serene Yishun Park, this area offers an ideal setting for outdoor learning and nature-based activities. Moreover, schools in the vicinity often organize field trips and educational outings to nearby parks, nature reserves, and science-based attractions, further enhancing the benefits of living in a community that promotes hands-on learning. With Miltonia Close EC Khatib situated nearby, residents can truly experience the best of both worlds – a top-notch education and a deep connection to nature right at their doorstep.
Apart from business parks, CLI also has a notable presence in the data centre sector in Maharashtra. CLINT currently owns and operates four data centres in Mumbai, Bangalore, Chennai, and Hyderabad, with a total power capacity of 244 megawatts (MW). Recently, Tower 1 of its data centre in Mumbai, with a power capacity of 54 MW, has become fully leased and has begun operations. Meanwhile, Tower 2, with a similar power capacity, is currently in the early stages of development. CLINT has also invested in three other data centres, which are currently under development.
CLI also has a significant presence in the logistics and industrial parks sector in Mumbai and Pune through its joint venture, Ascendas-Firstspace. With a combined area of 5.3 million square feet, these parks cater to the growing needs of e-commerce, manufacturing, and third-party logistics players in Maharashtra. CLI also has a planned pipeline of 17 million square feet of logistics projects under its joint venture, which will further augment its presence in this sector in the state.
The announcement of this significant investment was made during the launch of CLI’s first data centre in India, located in Navi Mumbai, on August 12. The event was attended by Deputy Prime Minister and Minister for Trade and Industry of Singapore, Gan Kim Yong, Chief Minister of Maharashtra, Shri Devendra Fadnavis, and other high-level dignitaries.