Singapore, Singapore, July 22, 2021 –(PR.com)– CapitaLand has launched its 2nd logistics personal fund of S$400 million (INR 22.5 billion) to enhance in India’s logistics sector, one in every of the supreme globally. CapitaLand India Logistics Fund II will invest in the advance of logistics property in key warehousing and manufacturing hubs in six fundamental cities – Ahmedabad, Bangalore, Chennai, Mumbai, Nationwide Capital Enviornment (NCR), and Pune, as well to in emerging markets corresponding to Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow. CapitaLand India Logistics Fund II will develop CapitaLand’s most up-to-the-minute complete Funds Under Administration (FUM) of S$79.2 billion across over 20 personal funds and 6 listed trusts, additional reinforcing CapitaLand’s situation as one in every of the leading proper estate fund managers on this planet.
CapitaLand India Logistics Fund II follows the a hit deployment of CapitaLand’s first logistics personal fund, the S$400 million Ascendas India Logistics Programme launched in 2018, to procedure six logistics and industrial projects in Bangalore, Chennai, NCR, and Pune. The six projects have a complete constructing doable of over 12 million sq. toes. of relate. Two of the projects are operational with 2.8 million sq toes of relate that has been leased. Ascendas-Firstspace manages the property of Ascendas India Logistics Programme and CapitaLand India Logistics Fund II. Please discover Annex for additional info on the six logistics property below Ascendas India Logistics Programme.
Mr Jonathan Yap, President, CapitaLand Financial, CapitaLand Community, who oversees CapitaLand’s industry in India, talked about: “The open of CapitaLand’s 2nd logistics fund in India is in step with the Community’s formulation to enhance our fund administration industry to generate habitual Fee Associated Earnings (FRE) and develop the Community’s property below administration (AUM) in a capital efficient scheme. In 1Q 2021, CapitaLand’s FRE increased by extra than 30% year-on-year. Our aim is to develop CapitaLand’s FUM to as a minimal S$100 billion by 2024. We can get so by raising unusual funds across geographies and asset lessons, as well to supporting the expansion of our present REITs, industry trusts and personal funds. We can continue to leverage CapitaLand’s proper estate investment and fund administration capabilities to develop our funds in our core markets of Singapore, China, India and Vietnam as well to our focal point markets corresponding to Australia, USA and Europe the build there is accurate investor request.”