CapitaLand Investment Limited (CLI) announced three new acquisitions in Southeast Asia from unrelated third parties. The acquisitions include two industrial properties in Singapore by Extra Space Asia, the Asia-focused self-storage platform managed by CLI. In addition, CapitaLand SEA Logistics Fund acquired OMEGA 1 Bang Na,Thailand (OMEGA 1 Bang Na), a 20-hectare freehold greenfield site in Bangkok, Thailand.
Read also – Singapore-based Amperesand Raises $12.45M Series Seed Funding
With these acquisitions, ESA’s Singapore portfolio will expand its range of locations and storage solutions. ESA’s properties in Singapore continue to record high occupancies as demand for self-storage remains robust. Plans are also underway to add more green-certified properties to its portfolio.
Read also – Pagaya Closes Five-Year $280M Credit Facility
Ms Patricia Goh, CEO, Southeast Asia Investment, CapitaLand Investment, said: “Despite the challenging market conditions, we have made tremendous progress in deploying capital strategically across Southeast Asia over the past year into assets catering to self-storage, logistics and wellness-hospitality sectors. These sectors have demonstrated strong secular growth in this region and align with our thematic focus of investing in real estate driven by long term mega trends such as rapid urbanisation, supply chain rationalisation, evolving consumer preferences, aging population and longevity economy. The acquisitions not only demonstrate our deal sourcing and execution capabilities but also underscore our extensive reach and scale in Singapore as we leverage these competencies to expand our presence in the region.”
Read also – Hong Kong-based MediConCen Secures Series A Funding to Drive Global Expansion
In line with the platform’s value-add strategy, CLI will focus on identifying investment opportunities that can unlock value and maximise revenue from the assets through efficient conversions of industrial spaces for self-storage use.
Read also – Saudi Arabia-based Rize Secures $2.9 Mn in Seed Round
About CapitaLand Investment Limited
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 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. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.
Read also – Solarvest-CENTEXS-Huawei Unveil New Wind Turbine Testbed and Green Energy Gallery
