CapitaLand Investment Limited (CLI), a global real asset manager, has signed a Memorandum of Understanding (MoU) with the Maharashtra Government to invest over $2.3 billion (INR19,200 crores) by 2030. This significant investment aims to bolster CLI’s growth in Mumbai and Pune, focusing on business parks, data centres, logistics, and industrial sectors.
The announcement coincided with the launch of CLI’s first data centre in India, located in Navi Mumbai. The event was attended by Singapore’s Deputy Prime Minister, Gan Kim Yong, and Maharashtra’s Chief Minister, Devendra Fadnavis. CLI’s presence in Maharashtra began in 2013 with the International Tech Park Pune, Hinjawadi, developed in partnership with the Maharashtra Industrial Development Corporation.
Over the past decade, CLI has invested over $340 million (INR6,800 crores) in Mumbai and Pune across 10 assets. The new investment is part of CLI’s broader strategy to increase its funds under management in India from over $5.7 billion (S$8 billion) to $10.7 billion (S$15 billion) by 2028. Sanjeev Dasgupta, CEO of CLI India, emphasised Maharashtra’s strong economic fundamentals and its role as a key partner in CLI’s growth journey.
CLI currently operates five business parks in Maharashtra, with plans to expand by an additional 4.5 million sq ft. Its data centre strategy includes four centres across major Indian cities, with a total power capacity of 244 megawatts. Additionally, CLI’s logistics and industrial portfolio in Mumbai and Pune spans 5.3 million sq ft, with further developments planned to meet the growing demand from e-commerce and manufacturing sectors.
With over three decades of experience in India, CLI continues to leverage its global expertise and local partnerships to deliver sustainable projects, reinforcing Maharashtra’s position as a hub for innovation and infrastructure development.
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