CapitaLand Investment acquires three properties in Singapore and Thailand

The sales follow CapitaLand Wellness Fund’s finalization of the shared procurement of a property lodging real estate in Singapore last month. Upon the completion of the property development of OMEGA 1 Bang Na, the complete investment market value of these 4 purchases will most likely be about $700 million, carrying CLI’s finances within supervision in the area to $1.2 billion.

“By combining our capability of value creation with best-in-class operating capabilities and drawing on the sector-specific industry expertise of our capital associates and managers, these account are positioned to add favorably to our fee-related profits and supply maintainable incomes to our buyers,” she adds in.

The commercial properties are purchased by Extra Space Asia (ESA), the Asia-focused self-storage network handled by CLI, whilst the 20-hectare freehold greenfield site OMEGA 1 Bang Na in Bangkok is bought by CapitaLand SEA Logistics Fund (CSLF).

CapitaLand Investment (CLI) has gotten 2 commercial real estates in Singapore and a property greenfield site in Bangkok, Thailand.

At the same time, OMEGA 1 Bang Na is CLI’s primary logistics real estate in Thailand. As a built-to-suit undertaking, CSLF is going to develop a state-of-the-art programmed logistics campus with a gross floor area of 2.47 million sq ft, capable of suiting over 150,000 pallet settings in an automated storage space and retrieval system.

Set to be Thailand’s biggest standalone stockroom, the current ramp-up campus are going to be run by Ally Logistic Property when finalized. Construction is set up to begin in 1H2024, with phase one projected to be concluded in 2026.

Cape Royale Ho Bee Land & IOI Properties

Looking ahead, these latest acquisitions are set to feed the next phase of growth for each and every of these CLI-managed funds, says CLI Southeast Asia Investment CEO Patricia Goh.

ESA is readied to expand its portfolio in Singapore with approximately 320,000 sq ft in gross floor space by the end of 1Q2024. Upon conclusion of the purchases, ESA intends to turn both assets into self-storage facilities in phases, providing air-conditioned units and centers for a drink storage.