Singapore’s CapitaLand looks to enter realty funding

economictimes.indiatimes.com:

CapitaLand is looking to enter real estate funding and scale the renewable energy segment as it continues to expand its portfolio of office and industrial parks, Sanjeev Dasgupta, CEO, CapitaLand Investment India and CapitaLand India Trust, told ET. The company currently has about 22 million square feet of business parks and about 7.5 million square feet of industrial parks. It plans to scale up the portfolio to 50 million square feet in the next three years.

“We are evaluating real estate credit but it's still very early stages. This is something we are getting in for the first time, we should be operational in Australia soon. India is a very logical place to expand this business because after the NBFC crisis, lending to real estate has become both limited in volume and it's also become much more expensive,“ Dasgupta said.

The company is planning to keep the fund size between $100 million to $200 million and will be funding both residential and commercial projects. Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a global real estate investment manager (REIM) with a strong Asia foothold. As on 31 March 2023, CLI had S$133 billion of real estate assets under management, and S$89 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA.

“We are quite upbeat about India's economic prospects. All the infrastructure push that has been done, has created a lot of ancillary demand. And the whole relocation of manufacturing within Asia has also led to increase in demand,” Dasgupta said.