CapitaLand Investment acquires three properties in Singapore and Thailand

The sales adhere to CapitaLand Wellness Fund’s fulfillment of the mutual purchase of a property lodging property in Singapore previous month. Upon the finalization of the property development of OMEGA 1 Bang Na, the total investment value of these 4 procurements are going to be roughly $700 million, bringing CLI’s finances within management in the region to $1.2 billion.

Looking ahead, these most current acquisitions are set to feed the following phase of expansion for every of these CLI-managed funds, mentions CLI Southeast Asia Investment Chief Executive Officer Patricia Goh.

The industrial real estates are purchased by Extra Space Asia (ESA), the Asia-focused self-storage channel managed by CLI, while the 20-hectare freehold greenfield place OMEGA 1 Bang Na in Bangkok is acquired by CapitaLand SEA Logistics Fund (CSLF).

CapitaLand Investment (CLI) has acquired 2 commercial real estates in Singapore and an estate greenfield site in Bangkok, Thailand.

Set to be Thailand’s greatest standalone warehouse, the modern ramp-up campus will be controlled by Ally Logistic Property when completed. Building and construction is scheduled to commence in 1H2024, with step one expected to be carried out in 2026.

“By integrating our capability of value production with best-in-class working capacities and drawing on the sector-specific market understanding of our funding affiliates and managers, these account are held to add favorably to our fee-related earnings and give maintainable incomes to our investors,” she includes.

Lentoria floor plan

ESA is set to increase its profile in Singapore with around 320,000 sq ft in gross floor space by the end of 1Q2024. Upon achievement of the procurements, ESA prepares to turn both properties into self-storage establishments in stages, supplying air-conditioned units and centers for a drink storage space.

At the same time, OMEGA 1 Bang Na is CLI’s very first logistics commercial property in Thailand. As a built-to-suit project, CSLF will develop a state-of-the-art automated logistics campus with a gross flooring space of 2.47 million sq ft, with the ability of accommodating over 150,000 pallet placements in an automaticed systems storage space and access system.

error: Content is protected !!