CapitaLand Investment acquires three properties in Singapore and Thailand

CapitaLand Investment (CLI) has already obtained two industrial properties in Singapore and a freehold greenfield area in Bangkok, Thailand.

“By integrating our skill sets of value development with best-in-class working abilities and making use of the sector-specific market understanding of our funding affiliates and managers, these account are held to contribute positively to our fee-related revenues and give lasting profits to our investors,” she includes.

Meanwhile, OMEGA 1 Bang Na is CLI’s very first logistics property in Thailand. As a built-to-suit undertaking, CSLF will likely establish a state-of-the-art computerized logistics campus with a gross flooring space of 2.47 million sq ft, efficient in suiting over 150,000 pallet placements in an automaticed systems storage and retrieval system.

The commercial assets are acquired by Extra Space Asia (ESA), the Asia-focused self-storage platform managed by CLI, whereas the 20-hectare estate greenfield site OMEGA 1 Bang Na in Bangkok is acquired by CapitaLand SEA Logistics Fund (CSLF).

Klimt Cairnhill Singapore

ESA is readied to expand its profile in Singapore with approximately 320,000 sq ft in gross flooring spot by the end of 1Q2024. Upon conclusion of the acquisitions, ESA intends to convert both possessions right into self-storage facilities in periods, offering air-conditioned units and establishments for wine storage.

The proceedings follow CapitaLand Wellness Fund’s finalization of the mutual purchase of a freehold lodging property in Singapore previous month. Upon the completion of the property development of OMEGA 1 Bang Na, the total investment market value of these 4 acquisitions will most likely be around $700 million, taking CLI’s funds following supervision in the region to $1.2 billion.

Set to be Thailand’s greatest standalone stockroom, the today’s ramp-up campus are going to be operated by Ally Logistic Property when finalized. Construction is arranged to start in 1H2024, with step one presumed to be completed in 2026.

Looking ahead, these most current purchases are set to fuel the upcoming stage of expansion for every of these CLI-managed funds, says CLI Southeast Asia Investment Chief Executive Officer Patricia Goh.

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