Capitaland Investment Signs Mou Invest 283 Bil 2030 Data Centres Logistics And Industrial Parks
for $1.3 bil
CapitaLand Investment (CLI) and the Maharashtra Government in India have joined forces to drive growth in Mumbai and Pune, with CLI committing to invest $2.83 billion by 2030. This investment marks a significant step in CLI’s broader growth strategy for India, with the goal of increasing its funds under management from $8 billion to $15 billion by 2028. The company plans to invest in various sectors including business parks, data centres, logistics, and industrial parks.
CLI already has a strong presence in Maharashtra, with five operational business parks encompassing a total leasable area of 9.7 million sq ft. The company aims to add another 4.5 million sq ft through new developments to further enhance its offerings in the region.
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CLI currently holds investments in four of the 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.
CLINT also has a strong presence in the data centre market, with four facilities in Mumbai, Bangalore, Chennai, and Hyderabad boasting a total power capacity of 244 megawatts (MW). One of its data centres in Mumbai, Tower 1, with a 54 MW capacity, has already been fully leased and is now operational. The second data centre, Tower 2, is still in the early stages of development and also has a power capacity of 54 MW. The remaining three data centres are currently in the development process.
In addition, CLI has five logistics and industrial parks in Mumbai and Pune, managed by Ascendas-Firstspace, with a total area of 5.3 million sq ft. The company also has a large warehouse park of 1.2 million sq ft in Panvel, Mumbai, under CLINT.
CLI is also actively expanding its logistics portfolio in Maharashtra and currently has a development pipeline of 17 million sq ft under Ascendas-Firstspace. This move will cater to the growing demands of e-commerce, manufacturing, and third-party logistics players in the region.
The announcement was made at the opening of CLI’s first data centre in India, located in Navi Mumbai, on August 12. The event 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, CEO of CLI India Sanjeev Dasgupta, among others.
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