CapitaLand Rs 2,250 Cr Private Fund to Expand In Logistics Sector
CapitaLand launched its second logistics private fund worth Rs 2,250 crore or Rs 22.5 billion, in a bid to expand the country's logistics sector. The CapitaLand India Logistics Fund II will invest in the development of logistics assets in major manufacturing and warehousing hubs located in six cities across the country - Chennai, Pune, Bengaluru, Ahmedabad, National Capital Region, and Mumbai. It will also invest in emerging markets such as Jaipur, Lucknow, Coimbatore, Guwahati, and Kolkata. The second private fund follows the deployment of CapitaLand's first logistics private fund, the $400 million program which was launched in 2018, to develop six logistics and industrial projects in Bangalore, Chennai, Bengaluru, Pune, and NCR. (Also Read: Ascendas India Trust To Acquire 2 Buildings At IT Park In Bengaluru For Rs 1,441 Crore ) The six projects have a total development potential of more than 12 million square ft of space. Two of these projects are operational with 2.8 million square ft of space that has been leased. The logistics market in the country is expected to expand at a compound annual growth rate of 10.5 per cent between 2019 and 2025, according to the Indian Logistics Industry Outlook. CapitaLand - one of Asia's largest diversified real estate groups headquartered in Singapore, has worked across the full real estate value chain in India- owning, managing, and developing properties to fund management through the Ascendas India Trust (a-iTrust). In India, the real estate group has a portfolio of over 20 business and IT parks, industrial, lodging, and logistics properties, and data centre campuses in seven cities – Bangalore, Chennai, Bengaluru, Gurgaon, Goa, Mumbai, Hyderabad, and Pune. CapitaLand is a major contributor to the country's IT industry development, having pioneered the renowned International Tech Park Bangalore in 1994.
Tags : News/Views CapitaLand Expand logistics sector. Private Fund