CapitaLand Investment acquires three properties in Singapore and Thailand

ESA is readied to expand its portfolio in Singapore with roughly 320,000 sq ft in gross floor area by the end of 1Q2024. Upon achievement of the acquisitions, ESA intends to convert both assets right into self-storage establishments in phases, offering air-conditioned units and establishments for a drink storage.

Looking ahead, these latest procurements are set to feed the next stage of progress for each of these CLI-managed funds, mentions CLI Southeast Asia Investment CEO Patricia Goh.

“By combining our skill sets of value development with best-in-class working abilities and drawing on the sector-specific industry understanding of our funding associates and managers, these account are held to add positively to our fee-related earnings and supply maintainable gains to our buyers,” she includes.

The industrial properties are attained by Extra Space Asia (ESA), the Asia-focused self-storage platform handled by CLI, whilst the 20-hectare property greenfield site OMEGA 1 Bang Na in Bangkok is acquired by CapitaLand SEA Logistics Fund (CSLF).

Altura EC Singapore

CapitaLand Investment (CLI) has already obtained two industrial real properties in Singapore and a property greenfield area in Bangkok, Thailand.

Set to be Thailand’s largest standalone storage facility, the today’s ramp-up campus are going to be run by Ally Logistic Property when finalized. Development is arranged to start in 1H2024, with phase one projected to be concluded in 2026.

Meanwhile, OMEGA 1 Bang Na is CLI’s first logistics real estate in Thailand. As a built-to-suit venture, CSLF is going to establish a cutting edge computerized logistics campus with a gross flooring area of 2.47 million sq ft, capable of fitting over 150,000 pallet positions in an automaticed systems storage and retrieval system.

The proceedings follow CapitaLand Wellness Fund’s completion of the joint purchase of a property lodging real estate in Singapore last month. Upon the completion of the property development of OMEGA 1 Bang Na, the complete financial investment market value of these four procurements will most likely be around $700 million, bringing CLI’s funds under management in the region to $1.2 billion.