As soon as Prime Minister Narendra Modi arrived in Singapore, CapitaLand, a major real estate group from Singapore, announced a significant investment plan. CapitaLand, Asia’s largest diversified real estate group, will invest ₹45,000 crore in India over the next four years. This will double their total investment in India to ₹90,280 crore.
CapitaLand Investment stated that their funds under management in India, which were ₹458.8 billion (or $7.4 billion) as of June 30, 2024, will be doubled by 2028. This move will help CapitaLand reach their goal of $200 billion in funds under management by 2028. The announcement was made to mark the company’s 30th anniversary in India. CapitaLand Investment is very positive about India’s economic growth and wants to expand its presence there.
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Simon Wong, Singapore’s High Commissioner in India, shared this investment news on social media. He expressed his pleasure at seeing Singaporean companies doubling their investments in India.
Lee Chee Koon, CEO of CapitaLand Investment, mentioned that India is a strategic market for them and a key contributor to their overall business. He noted that India has been the fastest-growing market, with their investment tripling in the past seven years. He predicted that India’s GDP would be around 7% in 2024 and that India would become the world’s third-largest economy within the next five years. Lee Chee Koon also highlighted that India continues to attract major companies and institutional investors due to its quality real estate assets.
