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S$100 B
FUM
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S$134 B
RE AUM
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165 K
Lodging units under management
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S$2.1 B
Capital recycled in FY 2023
A GLOBAL PLAYER WITH STRONG ASIAN PRESENCE
CapitaLand Investment’s (CLI) footprint spans more than 260 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 Australia, Japan and Korea.
Notes:
- Includes business parks, industrial, logistics, data centres and self-storage
- Includes multifamily
- Includes Australia, Japan, South Korea, Malaysia, Vietnam, Indonesia, Thailand, Philippines and other Asia countries
- Includes USA, UK, Europe and other non-Asia countries
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 2023 | YTD Dec 2022 |
|---|---|---|
| Managed & franchised | 135,900 | 129,100 |
| Leased | 4,400 | 6,300 |
| REIT | 19,800 | 18,800 |
| Fund | 3,000 | 2,800 |
| Owned | 1,800 | 2,200 |
| Total | 164,900 | 159,200 |
| By Geography | YTD Dec 2023 | YTD Dec 2022 |
|---|---|---|
| SEAA1 | 82,100 | 78,100 |
| North Asia2 | 59,900 | 56,300 |
| Europe | 6,900 | 6,800 |
| Middle East, Africa, Türkiye & India3 | 10,100 | 10,200 |
| America | 5,900 | 7,800 |
| Total | 164,900 | 159,200 |
| By Lodging Type | YTD Dec 2023 | YTD Dec 2022 |
|---|---|---|
| Serviced residences | 115,900 | 114,900 |
| Hotels | 32,000 | 29,700 |
| Rental housing4 | 14,900 | 12,500 |
| Student accommodation5 | 2,100 | 2,100 |
| Total | 164,900 | 159,200 |
Notes: Figures may differ due to rounding
| 1 | Refers to Southeast Asia and Australasia. Includes ~4,400 units in Singapore |
| 2 | Includes ~48,700 units in China |
| 3 | Includes Bangladesh |
| 4 | Excludes CLI’s multifamily portfolio in the USA |
| 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 is to divest a gross amount of S$3 billion annually, to be collectively executed via CLI and our sponsored vehicles.
FY 2023 Capital Recycling
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S$2.7 B
Gross Investment1,2
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S$2.1 B
Gross Divestment1,3
Note:
- As at 31 December 2023 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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CLINT's first forward purchase transaction with the Casa Grande Group was for a fully leased industrial facility (Casa Grande – Phase 1) within the same micro-market. The acquisition was completed on 27 May 2022.
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CapitaLand India Trust completes acquisition of two industrial facilities at Mahindra World City, Chennai
CapitaLand India Trust Management Pte. Ltd., the Trustee Manager of CapitaLand India Trust (“CLINT”) has completed the acquisition of Casa Grande – Phase 2. The acquisition comprises two fully leased industrial facilities comprising 0.33 million square feet (sq ft) at Mahindra World City, Chennai, India; and 0.31 million sq ft is leased to a leading international electronics manufacturer while the remaining 0.02 million sq ft is leased to a global energy solutions provider.
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Anseong Seongeun Logistics Centre is a high specifications logistics property that comprises two four-storey buildings with basement floors totalling 60,407 square metres of net leasable area.
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CapitaLand Investment's flagship core-plus private fund exceeds S$1 billion FUM with acquisition of Grade A logistics property
CapitaLand Investment Limited’s (CLI) flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF), has acquired a newly completed, Grade A logistics property in South Korea for S$112 million (US$82.5 million). The acquisition will bring COREF’s funds under management (FUM) to over S$1 billion. The high specifications logistics property, Anseong Seongeun Logistics Centre, comprises two four-storey buildings with basement floors totalling 60,407 square metres of net leasable area.
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CapitaLand Ascendas REIT deepens its data centre presence in the UK with its fifth acquisition of a two-storey high-specification Tier III colocation facility for S$200 million. Located in London, one of the world’s top three data centre markets and Europe’s largest colocation data centre market, this DPU-accretive new economy acquisition will strengthen CLAR’s portfolio returns.
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CapitaLand Ascendas REIT completes acquisition of fifth data centre in the UK for S$200 million, uplifting its investments in Europe’s largest colocation data centre market by 54%
CapitaLand Ascendas REIT Management Limited, as the manager (the “Manager”) of CapitaLand Ascendas REIT (“CLAR”), is pleased to announce the completion of the acquisition of a high-specification Tier III colocation data centre facility (the “Property”) from an unrelated global data centre operator (the “Vendor”) (the “Acquisition”). The Property is situated in Watford in North-West London in the United Kingdom (the “UK”). The purchase consideration for the Acquisition after taking into account the agreed value of the Property of £119.4 million (approximately S$199.9 million) (the “Agreed Value”) is £125.1 million (approximately S$209.4 million) (the “Purchase Consideration”).
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CIGF2 has acquired an equity stake of 70% in International Tech Park Chennai, Radial Road from CLI for S$95 million (INR 5.9 billion) as its seed asset.
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CapitaLand Investment launches new business park development fund in India
CapitaLand Investment Limited (CLI) has launched a business park development fund, CapitaLand India Growth Fund 2 (CIGF2), with a target fund size of S$525 million to invest in Grade A business parks in prime locations across gateway cities in India. CLI has secured S$263 million (INR 16.3 billion) from a global institution for a 50% stake in the fund’s first closing. CLI intends to maintain a sponsor stake of 20% in the fund, in line with its asset-light strategy to grow its funds under management (FUM) while keeping strong alignment with its investors and partners. Including CLI’s equity contribution for the 20% stake, total equity commitment for the first closing is S$368 million (INR 22.9 billion). This is expected to add approximately S$700 million to CLI’s FUM.
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The Cavendish London (pictured) presents an excellent value-add opportunity for CLAS. It is one of CLAS’ properties that will undergo asset enhancement initiatives to increase the property’s value and yield.
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CapitaLand Ascott Trust proposes S$530.8 million acquisition of three lodging assets in London, Dublin and Jakarta
CapitaLand Ascott Trust (CLAS) has signed a Memorandum of Understanding (MOU) with its sponsor, The Ascott Limited (Ascott), for a proposed DPS-accretive acquisition of three lodging assets in the United Kingdom (UK), Ireland and Indonesia at an agreed property value of S$530.8 million. The three assets are a hotel in London, The Cavendish London; a hotel in Dublin, Temple Bar Hotel; and a serviced residence in Jakarta, Ascott Kuningan Jakarta. The acquisition will enable CLAS to enhance its income streams and capitalise on the travel recovery and robust lodging demand.
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The Shugart comprises a six-storey podium and a nine-storey tower. Its specifications include R&D, cleanroom and data centre space for Seagate Singapore’s operations. It serves as Seagate’s primary R&D location outside the United States.
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CapitaLand Ascendas REIT deepens presence in one-north, Singapore with acquisition of Seagate’s R&D facility for S$218.2 million
CapitaLand Ascendas REIT Management Limited, as the manager (the “Manager”) of CapitaLand Ascendas REIT (“CLAR”), is pleased to announce the proposed acquisition of The Shugart, an integrated high-specification research and development (“R&D”) facility and business park property (the “Property”) from Seagate Singapore International Headquarters Pte Ltd (“Seagate Singapore” or the “Vendor”) (the “Proposed Acquisition”). The Property is situated at 26 Ayer Rajah Crescent in the one-north district in Singapore. The purchase consideration for the Proposed Acquisition is S$218.24 million (the “Purchase Consideration”).
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The Logistics Property is a single-storey detached warehouse with an annexed three-storey office building and a built-up area of 84,755 square feet.
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CLMT strengthens portfolio with the acquisition of a second logistics property for RM39.7 million
CapitaLand Malaysia REIT Management Sdn. Bhd. (CMRM), the manager of CapitaLand Malaysia Trust (CLMT), is pleased to announce today that MTrustee Berhad, the Trustee of CLMT, has entered into a sale and purchase agreement to acquire a freehold logistics warehouse (the Logistics Property) located at the Hicom-Glenmarie Industrial Park in Shah Alam, Selangor (the Proposed Acquisition). The purchase price for the Proposed Acquisition is RM39.7 million, negotiated on a willing-buyer willing-seller basis, is in line with the independent market valuation of RM40.4 million commissioned by the Trustee.
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Including the six newly acquired multifamily properties by COREF and another three multifamily properties acquired by CLI’s lodging trust CapitaLand Ascott Trust which will be completed between 2Q 2023 and 2024 , CLI vehicles will hold a total of 30 multifamily properties across eight cities in Japan. Pictured here is Eslead Residence Bentencho Grande, located in Osaka.
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CapitaLand Investment to acquire six multifamily assets in Osaka, Japan for its regional core-plus private fund for S$141.4 million (US$105.9 million)
CapitaLand Investment Limited (CLI) has entered into a forward purchase agreement with an established Osaka-based residential developer to acquire six multifamily assets in Central Osaka, Japan at a purchase price of S$141.4 million (US$105.9 million) for its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF). The deal marks COREF’s entry into the multifamily sector.
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The CCOP Programme acquired an integrated development, Innov Tower (formerly known as Beijing Suning Life Plaza), through its single-asset fund. The fund will reposition the asset by converting and upgrading the retail space into a Grade A office that will command higher rents.
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CapitaLand Investment establishes CapitaLand China Opportunistic Partners Programme to invest in special situation opportunities in China
CapitaLand Investment Limited (CLI) has established the CapitaLand China Opportunistic Partners Programme (CCOP Programme), with a total of S$1.1 billion equity committed to invest in special situation opportunities in China. CLI has secured S$892 million from top tier global institutional investors, which hold an 80% stake in the Programme. CLI holds the remaining 20% stake, in line with its asset-light strategy to grow its funds under management (FUM) while keeping strong alignment with its investors and partners.
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The data centre development projects are expected to be completed in 2025 and will deliver over 100 megawatts (MW) of power.
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CapitaLand Investment establishes China data centre development fund with S$1 billion investments
CapitaLand Investment Limited (CLI) has established a China data centre development fund, CapitaLand China Data Centre Partners (CDCP). CDCP has committed to invest in two hyperscale data centre development projects in Greater Beijing, and upon completion of the projects, will add approximately S$1 billion to CLI’s funds under management.
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The acquisition will complement CLINT’s existing portfolio in Bangalore, International Tech Park Bangalore (pictured) in Whitefield, and Gardencity in Hebbal.
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CapitaLand India Trust to invest in a forward purchase of a 1.0 million sq ft IT Park at Outer Ring Road, Bangalore, India
CapitaLand India Trust Management Pte. Ltd., the Trustee-Manager of CapitaLand India Trust (“CLINT”), is pleased to announce that it has entered into a forward purchase agreement to acquire a 1.0 million sq ft IT Park located at Outer Ring Road, Bangalore, India (the “Transaction”). CLINT will provide funding for the development of the project as part of the forward purchase arrangement.
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CapitaLand Ascendas REIT continues to optimise its portfolio returns with the divestment of three logistics properties, namely, 77 Logistics Place (bottom left), 62 Sandstone Place (bottom right) and 92 Sandstone Place (top), in Queensland, Australia for S$64.2 million (A$73.0 million) at a 6.2% premium to market valuation.
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CapitaLand Ascendas REIT divests three properties in Australia at a premium to valuation
CapitaLand Ascendas REIT Management Limited, as the manager (the “Manager”) of CapitaLand Ascendas REIT (“CLAR”), is pleased to announce that CLAR has, through its relevant subsidiaries (being Perpetual Corporate Trust Limited as trustee for the Ascendas Longbeach Trust No. 4 and The Trust Company Limited as trustee for the Ascendas Longbeach Trust No. 7), entered into three put and call option deeds today for the sale of three logistics properties, namely, 77 Logistics Place, 62 Sandstone Place and 92 Sandstone Place (collectively, the “Properties”) located in Queensland, Australia to AM QLD Industrial Property Pty Ltd ATF AM QLD Industrial Property No.1 Unit Trust, AM QLD Industrial Property No.2 Pty Ltd ATF AM QLD Industrial Property No.2 Unit Trust and AM QLD Industrial Property No.3 Pty Ltd ATF AM QLD Industrial Property No.3 Unit Trust, respectively (the “Proposed Divestment”).
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Hotel WBF Honmachi
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CapitaLand Ascott Trust divests three hotels in Japan for JPY10.7 billion
CapitaLand Ascott Trust (CLAS) is divesting three hotels in Osaka, Japan to an unrelated third party for a total of JPY10.7 billion (S$99.8 million). The three properties are Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF Kitasemba West.
The three properties will be divested at about 15% above book value. Net proceeds of the divestment are expected to be about JPY3.9 billion (S$36.4 million) and CLAS will recognise a net gain of JPY1.1 billion (S$10.1 million). The divestment of the three properties is expected to be completed in 1Q 2024.
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CapitaMall Shuangjing in Beijing
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CapitaLand China Trust divests CapitaMall Shuangjing
CapitaLand China Trust Management Limited (“CLCTML”), the manager of CapitaLand China Trust (“CLCT”), is pleased to announce that CLCT, through its wholly owned subsidiary, has entered into an agreement to divest its entire equity interest in CapitaRetail Beijing Shuangjing Real Estate Co., Ltd., which holds CapitaMall Shuangjing (the “Property”) to an unrelated third party based on an agreed price of the Property of RMB842.0 million (approximately S$157.8 million) (the “Agreed Interest Price”).
The Agreed Interest Price represents an exit yield of 2.8%. Targeted for completion in the first quarter of 2024, the divestment will crystallise higher cash value from the Property and enhance returns to Unitholders and is expected to generate net proceeds of approximately RMB690.7 million (approximately S$129.5 million).
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Courtyard by Marriott Sydney-North Ryde
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CapitaLand Ascott Trust divests two hotels in Australia for AUD109.0 million
CapitaLand Ascott Trust (CLAS) is divesting two mature hotels in Sydney, Australia to an unrelated third party for a total of AUD109.0 million (S$95.6 million). Situated outside of the city centre, the two properties are Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta.
The two properties will be divested at about 5% above book value and net proceeds of the divestment is expected to be AUD98.0 million (S$85.9 million). The exit yield is 4.4% and CLAS will recognise a net gain of AUD14.2 million (S$12.4 million). The divestment of Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta is expected to be completed in 1Q 2024 and 3Q 2024 respectively.
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Citadines City Centre Lille
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CapitaLand Ascott Trust completes divestment of four properties in regional France for EUR44.4 million
CapitaLand Ascott Trust (CLAS) has completed the divestment of four mature serviced residences in regional France to an unrelated third party for a total of EUR44.4 million (S$64.7 million). The four properties are Citadines Croisette Cannes, Citadines Prado Chanot Marseille, Citadines Castellane Marseille and Citadines City Centre Lille.
The four properties were divested at 63% above book value and net proceeds of the divestment is approximately EUR34.1 million (S$49.7 million). The exit yield] is about 4% and CLAS received a net gain of approximately EUR1.2 million (S$1.8 million).
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3 Damansara Office Tower
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CLMT divests office property in Petaling Jaya for RM52.0 million
CapitaLand Malaysia REIT Management Sdn. Bhd. (“CMRM”), the manager (the “Manager”) of CapitaLand Malaysia Trust (“CLMT”), is pleased to announce that MTrustee Berhad, the Trustee of CLMT (the “Trustee”), has entered into a sale and purchase agreement today for the sale of 3 Damansara Office Tower (the “Property”) to Lagenda Harta Sdn. Bhd., a wholly owned subsidiary of Lagenda Properties Berhad, for a sale consideration of RM52.0 million (the “Proposed Divestment”).
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Pictured from left to right, the high-quality logistics development in Foshan, Guangdong under CCOP Programme, CapitaSky under COREF and International Tech Park, Radial Road under CIGF2.
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CapitaLand Investment raises additional S$1.3 billion third-party equity commitment for its private funds
CapitaLand Investment Limited (CLI) has successfully secured about S$1.3 billion (US$950 million) equity commitment from global institutional investors for three of its private funds recently, bringing its total equity raised to S$3.2 billion to date this year. This amount raised within eight months is a 28% increase compared with the S$2.5 billion of equity raised for the full year 2022.
The new third-party equity raised of S$1.3 billion comprises S$870 million (US$650 million) secured for CapitaLand China Opportunistic Partners Programme (CCOP Programme), S$134 million (US$100 million) for CLI’s flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF), and S$263 million (US$197 million) for its new India business park development fund, CapitaLand India Growth Fund 2 (CIGF2).
CLI is divesting an additional partial stake in a high-quality logistics development in Foshan, Guangdong to the CCOP Programme. CLI had acquired the logistics development in May 2022 as a seed asset for the CCOP Programme and divested a partial stake in the asset to CCOP Programme in February 2023. The build-to-suit logistics development is 100% pre-leased to a leading domestic textile e-trading platform.
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CapitaLand Ascendas REIT is divesting KA Place for S$35.38 million at a 55% premium to valuation, in line with the Manager’s proactive asset management strategy.
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CapitaLand Ascendas REIT to divest KA Place in Singapore at a premium to valuation
CapitaLand Ascendas REIT Management Limited, as the manager (the “Manager”) of CapitaLand Ascendas REIT (“CLAR”), is pleased to announce that HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of CLAR (the “Trustee”), has entered into a sale and purchase agreement today for the sale of KA Place, 159 Kampong Ampat in Singapore (the “Property”) to KA Place SPV 1 Pte. Ltd. for a sale consideration of S$35.38 million (the “Sale Consideration”).
