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S$88 B
FUM
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S$132 B
RE AUM
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159 K
Lodging units under management
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S$3.1 B
Capital Recycled in FY 2022
A GLOBAL PLAYER WITH STRONG ASIAN PRESENCE
CapitaLand Investment’s footprint spans more than 220 cities in over 40 countries, with long-standing presence and extensive real estate experience in its core markets of Singapore, China and India, and its focus markets of Korea, Japan and Australia.
Notes:
- Includes business parks, industrial, logistics, and data centres
- Includes multifamily
- Includes Australia, Japan, South Korea, Malaysia, Vietnam, Indonesia, Thailand, Philippines and other Asian countries
- Includes USA, UK, Europe and other non-Asian countries
- Includes residential & commercial strata which comprises 0.2% of total RE AUM and not reflected in chart
- Includes residential & commercial strata, which comprises 0.7% of total FUM and is not reflected in chart
LODGING UNITS UNDER MANAGEMENT
CLI’s lodging portfolio is focused in the longer-stay segment and well diversified geographically. More than 80% of the total units within the portfolio are under asset-light management contracts and franchise deals.
| By Ownership | YTD Dec 2022 | YTD Dec 2021 |
|---|---|---|
| Managed & Franchised | 129,100 | 105,800 |
| Leased | 6,300 | 4,700 |
| REIT | 18,800 | 17,800 |
| Fund | 2,800 | 1,700 |
| Owned | 2,200 | 3,000 |
| Total | 159,200 | 133,300 |
| By Geography | YTD Dec 2022 | YTD Dec 2021 |
|---|---|---|
| SEAA1 | 78,100 | 70,900 |
| North Asia2 | 56,300 | 44,900 |
| Europe | 6,800 | 6,200 |
| Middle East & Africa3 | 10,200 | 5,600 |
| America | 7,900 | 5,400 |
| Total | 159,200 | 133,000 |
| By Lodging Type | YTD Dec 2022 | YTD Dec 2021 |
|---|---|---|
| Serviced residences | 114,900 | 94,600 |
| Hotels | 29,700 | 30,200 |
| Rental housing4 | 12,500 | 6,600 |
| Student accomodation5 | 2,100 | 1,500 |
| Total | 159,200 | 133,300 |
Notes:
| 1 | Refers to Southeast Asia and Australasia. Includes ~4,400 units in Singapore. |
| 2 | Includes 46,000 units in China |
| 3 | Includes Türkiye and India |
| 4 | Excludes multifamily |
| 5 | Comprises ~5,600 beds in operating and development properties |
DISCIPLINED CAPITAL RECYCLING
CLI believes in disciplined capital recycling across the Group to ensure relevance of the overall portfolio and to unlock value. Our target – a gross amount of S$3 billion annually, to be collectively executed via CLI and our sponsored vehicles.
FY 2022 Capital Recycling on Track
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S$7.7 B
Gross Investment1,2
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S$3.1 B
Gross Divestment1,3
Note:
- As at 31 December 2022 based on announcement dates.
- Total gross investment value based on agreed property value (100% basis) or purchase/ investment consideration.
- Total gross divestment value based on agreed property value (100% basis) or sales consideration.
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Ascendas i-Link in Shanghai, China
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CapitaLand Investment establishes two onshore RMB funds totalling about RMB4 billion to invest in business parks in China
CapitaLand Investment Limited (CLI) has established two new onshore renminbi (RMB) funds, China Business Park Core RMB Fund I (CBPCF I) and CBPCF II to invest in business park opportunities in China. CBPCF I is a RMB380 million (S$76 million1) fund established with four new domestic investors and CBPCF II is a RMB3.6 billion (S$720 million) fund established with six new domestic investors. CLI has raised RMB3.2 billion (S$640 million) in third-party capital for the two funds. They are CLI’s first business park private funds in China and will add over RMB8.2 billion (S$1.6 billion) to CLI’s funds under management (FUM) when fully deployed. Aligned with its asset-light strategy to grow its FUM, CLI will hold a 10% and 20% stake in the funds respectively.
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APG and CapitaLand Investment in joint venture to build dominant self-storage platform in Asia
APG Asset Management N.V. (APG), the investment manager for the largest pension provider in the Netherlands, and CapitaLand Investment Limited (CLI), a leading global real estate investment manager with a strong Asia foothold, have entered into a joint venture to establish an Asia-focused self-storage platform. APG and CLI have committed an initial equity investment of S$570 million with an option to increase their investment up to S$1.14 billion, in the proportion of 90:10, to fund the acquisition of Extra Space Asia (ESA) and its expansion needs. Post acquisition, the company will be re-positioned into an operating company/property company structure to facilitate future expansion.
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La Clef Tour Eiffel Paris is one of nine quality lodging properties across five countries that Ascott Residence Trust (ART) is proposing to acquire from its sponsor, The Ascott Limited at an estimated total capitalised cost of S$318.3 million.
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Ascott Residence Trust proposes to acquire S$318.3 million of assets in Australia, France, Japan, USA and Vietnam to strengthen presence in key markets
Ascott Residence Trust (ART) is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited. At an estimated total capitalised cost of S$318.3 million, the yield-accretive acquisition is set to increase ART’s distribution by S$9.2 million and its pro forma FY 2021 Distribution per Stapled Security by 2.8%.
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Ascendas Reit is acquiring Philips APAC Center for S$104.8 million from Philips Electronics Singapore, which will leaseback their existing space to become the building’s anchor tenant.
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Ascendas Reit to acquire Philips APAC Center in Singapore for S$104.8 million
Ascendas Funds Management (S) Limited, as the manager (the “Manager”) of Ascendas Real Estate Investment Trust (“Ascendas Reit”), is pleased to announce Ascendas Reit’s proposed acquisition of Philips APAC Center located at 622 Lorong 1 Toa Payoh, Singapore (“APAC Center” or the “Property”) from Philips Electronics Singapore Pte Ltd (the “Vendor”) (the “Proposed Acquisition”) which will leaseback their existing space to become the anchor tenant.
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Oakwood Premier Melbourne
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Ascott Acquires Oakwood Worldwide To Fast-track Growth To Over 150,000 Units Globally
CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) announced it is acquiring Oakwood Worldwide (Oakwood), a premier global serviced apartment provider, from Mapletree Investments Pte Ltd. The acquisition increases Ascott’s global portfolio by 81 properties and about 15,000 units. Oakwood’s approximately 8,500 operational units are expected to immediately contribute to Ascott’s recurring fee income streams upon completion of the transaction slated in 3Q 2022.
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120 Spencer Street is CLI's fifth investment in Australia within six months, and COREF's first in the country.
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CLI acquires 22-storey office tower in Melbourne’s CBD
CapitaLand Investment Limited (CLI) has acquired a freehold office tower in the Western Core of Melbourne’s Central Business District for its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF). The acquisition marks CLI’s fifth investment in Australia within six months. This is COREF’s first acquisition in Australia, and its fourth in Asia Pacific with total investment amounting to approximately US$900 million since the fund’s establishment in August 2021.
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International Tech Park Pune, Hinjawadi, India
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CapitaLand Investment and its joint venture partner divest International Tech Park Pune, Hinjawadi to CapitaLand India Trust for S$221.9 million
CapitaLand Investment (CLI)’s wholly-owned subsidiary Ascendas India Development VII and its joint venture partner Maharashtra Industrial Development Corporation (MIDC) have entered into separate agreements with CapitaLand India Trust (CLINT) to divest their respective 78.5% and 21.5% shareholding in Ascendas IT Park (Pune) to CLINT for approximately INR13.5 billion (S$221.9 million). Ascendas IT Park (Pune) owns International Tech Park Pune in Hinjawadi (ITPP-H) in India. The total sale consideration represents a premium of approximately 9% to CLI’s valuation for ITPP-H in December 2021. The proposed divestment of ITPP-H is subject to CLINT’s unitholders’ approval at an extraordinary general meeting and is targeted to be completed by February 2023.
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Queensbay Mall, Penang, Malaysia
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CLI to divest Queensbay Mall, Penang, to CapitaLand Malaysia Trust for RM990.50 million
CapitaLand Investment Limited (CLI) has entered into agreements with CapitaLand Malaysia Trust (CLMT), its sponsored real estate investment trust listed on Bursa Malaysia, to divest its entire interest comprising 91.8% of the total strata floor area of retail parcels in Queensbay Mall, Penang, Malaysia. The agreed value of RM990.50 million (about S$300.3 million), arrived at on a willing-buyer and willing-seller basis, represents a premium of 3.8% to CLI’s valuation in December 2021.
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Upon completion of the divestment of 79 Robinson Road (building on right), CLI is expected to receive proceeds of about S$391 million and realise an estimated gain of S$72 million.
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CLI divests 79 Robinson Road in Singapore to CICT and COREF for S$1.26 billion
CLI and its joint venture partners for 79 Robinson Road – Mitsui & Co., Ltd. and Tokyo Tatemono Co., Ltd. – have entered into agreements to divest their 100% interest in the property to CLI-sponsored investment vehicles CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Open End Real Estate Fund (COREF).
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CICT received proceeds of about S$340 million and realised an estimated gain of S$56.7 million following the divestment of JCube.
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CICT divests JCube in Singapore for S$340M
CapitaLand Integrated Commercial Trust (CICT) completed its divestment of JCube in March 2022,for a consideration of S$340 million, at an NPI yield of less than 4%. JCube, which is located at 2 Jurong East Central in Singapore, is one of CICT's three malls in the Jurong East region and its smallest by net lettable area. This divestment is part of its portfolio reconstitution strategy to unlock value and re-invest the proceeds into other higher yield investment opportunities.
