CapitaLand's ₹19,200 Crore Bet on Maharashtra

CapitaLand Investment (CLI), a leading global real asset manager, has signed a Memorandum of Understanding (MoU) with the Maharashtra government to invest over ₹19,200 crore (SGD 2.83 billion) by 2030.

The investment will focus on developing business parks, data centres, and logistics and industrial parks across the Mumbai Metropolitan Region (MMR) and Pune. This initiative aligns with CLI’s strategy to expand its India assets under management from over SGD 8 billion to approximately SGD 15 billion by 2028.

CLI entered Maharashtra in 2013 through the International Tech Park Pune, Hinjawadi, in partnership with MIDC, and has since invested over ₹6,800 crore (SGD 1 billion) across 10 assets. Its current portfolio includes five operational business parks covering 9.7 million sq. ft., with an additional 4.5 million sq. ft. in the pipeline. CLI also manages logistics and industrial parks spanning 5.3 million sq. ft.

In addition, CLI operates a 1.2 million sq. ft. warehousing park in Panvel and has 17 million sq. ft. of logistics projects under development. CEO Sanjeev Dasgupta cited Maharashtra’s robust IT and industrial ecosystem as a key factor driving the company’s continued expansion in the region.

News by Rahul Yelligetti.