Capitaland Investment Signs Mou Invest 283 Bil 2030 Data Centres Logistics And Industrial Parks
for $1.15 bil
.
Living near shopping and dining facilities has many perks for families. It allows them to spend more quality time together without having to endure long journeys. This means that weekend activities can be more frequent and enjoyable, whether it’s catching a movie at the mall’s cinema or enjoying a laid-back meal at a family-friendly restaurant in the vicinity. With Aurelle of Tampines EC located nearby, families can easily access even more shopping and dining options, making their time together even more special.
CapitaLand Investment (CLI) has recently forged a memorandum of understanding (MOU) with the Maharashtra Government in India to invest a total of $2.83 billion by 2030. The investment is expected to drive growth in Mumbai and Pune, two of the country’s key cities.
According to CLI, the planned investments in Maharashtra are in line with its broader growth strategy for India, where the company aims to increase its funds under management from $8 billion to $15 billion by 2028. These investments will primarily focus on business parks, data centres, logistics, and industrial parks.
Currently, CLI has five operational business parks in Maharashtra, with a total leasable area of 9.7 million square feet. The company plans to add another 4.5 million square feet to its portfolio. CLI has already invested in four of these business parks – ITPP-H, aVance Pune I & II, and Aurum Q Parc in Mumbai – through CapitaLand India Trust (CLINT). The fifth business park, International Tech Park Pune, Kharadi, is held under CLI’s private fund, Ascendas India Growth Programme.
In addition to business parks, CLI also has a strong presence in the data centre sector in Maharashtra. CLINT currently has four data centres in Mumbai, Bangalore, Chennai, and Hyderabad, with a combined power capacity of 244 megawatts (MW). Its latest data centre in Mumbai, with a power capacity of 54 MW, has already been fully leased and is now operational. Meanwhile, the development of its second data centre, also with a capacity of 54 MW, is underway. The remaining three data centres are still in the early stages of development.
CLI also has a significant presence in the logistics and industrial parks sector, with five facilities spanning 5.3 million square feet in Mumbai and Pune under Ascendas-Firstspace. It also has a 1.2 million square foot warehousing park in Panvel, Mumbai, under CLINT. The company has a pipeline of logistics projects totaling 17 million square feet under Ascendas-Firstspace, which is expected to cater to the growing demand from e-commerce, manufacturing, and third-party logistics players in Maharashtra.
The announcement was made at the launch of CLI’s first data centre in India in Navi Mumbai on August 12 and was attended by Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, Chief Minister of Maharashtra Shri Devendra Fadnavis, Chairman of CapitaLand India Trust (CLINT) Maohar Khiatani, and CEO of CLI India Sanjeev Dasgupta, among others.
