Mumbai: CapitaLand Investment Limited (CLI), a global real asset manager, has signed a Memorandum of Understanding (MoU) with the Maharashtra Government to invest more than Rs 19,200 crore in the state by 2030.
The MoU aims to expand CLI’s presence in Mumbai and Pune.
The announcement came during the launch of CLI’s first data centre in India, located in Navi Mumbai. The event was attended by senior leaders from Singapore and Maharashtra, along with CLI executives and partners.
Decade-long presence in Maharashtra
CLI began operations in Maharashtra in 2013 with the International Tech Park Pune, Hinjawadi, developed with the Maharashtra Industrial Development Corporation. Over the past decade, it has invested more than Rs 6,800 crore in Mumbai and Pune across 10 assets, including business parks, data centres, and logistics facilities.
The new investment forms part of CLI’s broader strategy for India, aiming to grow its funds under management from over S$8 billion to about S$15 billion by 2028. Maharashtra remains a focal point due to its strong economic base, established IT ecosystem, and growing manufacturing and logistics sectors.
Strengthening business park portfolio
CLI currently operates five business parks in Maharashtra with a total leasable area of 9.7 million square feet. Plans are underway to add another 4.5 million square feet. Four of these properties—International Tech Park Pune Hinjawadi, aVance Pune I & II, and Aurum Q Parc in Mumbai—are part of CapitaLand India Trust (CLINT), Asia’s largest India-focused property trust listed in Singapore. The fifth park, International Tech Park Pune Kharadi, is managed through CLI’s private Ascendas India Growth Programme.
Boosting logistics and industrial footprint
In logistics and industrial facilities, CLI operates five parks in Mumbai and Pune under the Ascendas-Firstspace platform, covering 5.3 million square feet. CLINT also owns a 1.2 million square foot warehousing park in Panvel, Mumbai. Additionally, CLI has a pipeline of logistics projects totalling 17 million square feet to cater to the growing needs of e-commerce, manufacturing, and third-party logistics companies in the state.
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