CapitaLand Investment to Inject Rs 9,200 Crore into Maharashtra by 2030 for Growth

CapitaLand Investment Ltd (CLI) has announced a significant investment plan in Maharashtra, India. By 2030, the global real asset management firm aims to invest over ₹9,200 crore (2.3 billion Singaporean dollars) in Mumbai and Pune. This initiative was revealed during the opening of CLI's first data centre in Navi Mumbai.

Investment Focus on Key Sectors

The planned investment will target sectors such as data centres, logistics, and industrial parks. This move aligns with CLI's broader strategy for India, where it plans to increase its funds under management from over 8 billion Singaporean dollars to approximately 15 billion by 2028. The company has been active in Maharashtra since 2013, starting with an International Tech Park in Pune's Hinjawadi.

CLI has significantly expanded its presence in Mumbai and Pune over the past decade. It has invested more than ₹6,800 crore across ten assets, including business parks, data centres, and logistics facilities. The company currently operates five business parks in Maharashtra with a total leasable area of 9.7 million square feet.

Strategic Partnerships and Growth

CLI's collaboration with the Maharashtra government has been crucial to its growth. Sanjeev Dasgupta, CEO of CLI India, highlighted the state's strong economic fundamentals and well-developed IT ecosystem as key factors for expansion. CLI values its partnership with Maharashtra, which has supported its growth journey over the years.

In addition to business parks, CLI is focusing on data centre development in India. CLINT, Asia's largest India-focused property trust listed in Singapore, operates four data centres in Mumbai, Bengaluru, Chennai, and Hyderabad with a total power capacity of 244 megawatts. These centres aim to meet the growing demand for digital infrastructure.

Expanding Logistics and Industrial Parks

CLI also manages logistics and industrial parks under Ascendas-Firstspace in Mumbai and Pune. These parks cover 5.3 million square feet, along with a 1.2 million square foot warehousing park in Panvel, Mumbai under CLINT. The company is developing logistics projects totalling 17 million square feet to cater to e-commerce and manufacturing needs.

The launch event for the Navi Mumbai data centre was attended by notable figures such as Singapore Deputy Prime Minister Gan Kim Yong and Maharashtra Chief Minister Devendra Fadnavis. CLI's diversified portfolio across eight Indian cities includes over 55 IT and business parks, coworking spaces, lodging facilities, and more.

CLI's investment strategy underscores India's importance as a core market for the company. With Maharashtra offering substantial growth opportunities due to its robust economic landscape, CLI is poised to further strengthen its footprint in the region through strategic investments and partnerships.

With inputs from PTI