CapitaLand Investment India Logistics Portfolio Expansion In Chennai
CapitaLand Investment signed three MoUs during Tamil Nadu Global Investors Meet (GIM) 2024 for the asset classes which includes business parks, data center and logistics. Through the MoUs, CLI is expected to invest over S$750 (approx. 4500 crore INR) million in the next five years for projects that include ITPC - Radial Road business parks, data center development at Ambattur and logistics portfolio expansion in Chennai through Ascendas First Space. Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres. CapitaLand (earlier known as Ascendas) has three decades of expertise in India, having pioneered the country's first business park in 1994. CLI India has a resilient and well-diversified portfolio with total assets under management of S$5 billion in India. 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 Periyapalayam managed 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 a business park development fund, CapitaLand India Growth Fund 2 (CIGF2), with a target fund size of S$525 million to invest in Grade A business parks in prime locations across gateway cities in India. CLI intends to maintain a sponsor stake of 20% in the fund, in line with its asset-light strategy to grow its funds under management (FUM) while keeping strong alignment with its investors and partners. CIGF2 acquired an equity stake of 70% in International Tech Park Chennai, Radial Road (ITPC-Radial Road) from CLI for S$94.9 million3 (INR 5.9 billion) as its seed asset. CLI will continue to manage the ITPC-Radial Road asset after its divestment. CapitaLand Investment Limited (CLI) commenced operations for Phase 1 of International Tech Park Chennai, Radial Road (ITPC-Radial Road), the first business park in India to be certified by the Indian Green Building Council (IGBC) as Net Zero for energy efficiency, water conservation and waste management. Located along Chennai’s newest and fastest growing IT corridors, the 5 million square feet (sq ft) business park offers four Grade A office blocks with the capacity to house over 50,000 IT service professionals upon completion. The development of Phase 2 is currently underway and set to begin operations by 2Q 2024. CapitaLand India Trust (CLINT) acquired a 4.01-acre freehold site in Ambattur, Chennai for INR 832.8 million. (approximately S$14.1 million) to develop its third data centre in India. CLINT will invest an estimated total amount of INR19.4 billion (approximately S$328.8 million) to acquire the site and develop a state-of-the-art data centre in phases over the next four to five years. The data centre will have a power capacity of 55 megawatts (MW) to host customers such as global technology giants and cloud service providers, as well as large domestic enterprise clients. The data centre is scheduled to be completed by end-2025. CapitaLand India Trust (CLINT) completed the acquisition of Casa Grande – Phase 2. The acquisition comprises two fully leased industrial facilities comprising 0.33 million square feet (sq ft) at Mahindra World City, Chennai, India; of which 0.31 million sq ft is leased to a leading international electronics manufacturer while the remaining 0.02 million square feet is leased to a global energy solutions provider. This is the second forward purchase transaction that CLINT has entered with the Casa Grande Group. The first forward purchase transaction of a fully leased industrial facility (Casa Grande – Phase 1) was completed on 27 May 2022.
Tags : CapitaLand India Trust Casa Grande International Tech Park Indian Green Building Council International Tech Park Chennai Ascendas First Space