CapitaLand looks to double its commercial space portfolio

BENGALURU: CapitaLand, the Singapore-based diversified real estate group, wants to double its commercial space portfolio in India post the acquisition of Ascendas-Singbridge, its chief executive said. The company, which has a substantial presence in retail, hospitality and lodging segments in China and Singapore, is looking at 40 million sqft, from its current 17.4 million, in the next five years. “Out of the 40 million, 28 million will be in the office space where most of the demand is, the remaining will be from logistics and warehousing,” CEO Lee Chee Koon said.

CapitaLand bought Ascendas-Singbridge from sovereign wealth fund Temasek for about $8 billion earlier this year. Ascendas has office parks and warehouses in six cities across India and counts TCS, Mu Sigma and General Motors among its clients Another 18 million is in different stages of construction, while 7 million sqft through forward purchases have been signed up. A forward contract is a private agreement between two parties giving the buyer an obligation to purchase an asset at a set price at a future time. India and Vietnam are CapitaLand’s two most important markets after Singapore and China. Singapore-based investors and developers, which include GIC and Xander, have expanded their presence in India’s property market and especially the office market in the last few years.


Source: https://realty.economictimes.indiatimes.com/news/commercial/capitaland-looks-to-double-its-commercial-space-portfolio/74325955

February 27, 2020

2 views
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • Black LinkedIn Icon

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.