CapitaLand Investment acquires three properties in Singapore and Thailand

ESA is set to broaden its profile in Singapore with approximately 320,000 sq ft in gross floor spot by the end of 1Q2024. Upon completion of the acquisitions, ESA plans to switch both properties into self-storage facilities in periods, providing air-conditioned units and establishments for a drink storage space.

Looking forward, these most current procurements are readied to fuel the following phase of expansion for each of these CLI-managed funds, says CLI Southeast Asia Investment Chief Executive Officer Patricia Goh.

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

Set to be Thailand’s biggest standalone storehouse, the current ramp-up campus are going to be managed by Ally Logistic Property when finalized. Construction is scheduled to commence in 1H2024, with stage one projected to be concluded in 2026.

At the same time, OMEGA 1 Bang Na is CLI’s primary logistics commercial property in Thailand. As a built-to-suit undertaking, CSLF will likely establish a modern computerized logistics campus with a gross flooring area of 2.47 million sq ft, efficient in accommodating over 150,000 pallet placements in an automaticed systems storage space and retrieval system.

CapitaLand Investment (CLI) has recently gotten two commercial properties in Singapore and a property greenfield spot in Bangkok, Thailand.

“By integrating our skill sets of value production with best-in-class operating capabilities and drawing on the sector-specific industry understanding of our capital partners and operators, these budget are positioned to contribute favorably to our fee-related earnings and supply sustainable returns to our clients,” she adds.

Lentor Hills Residences Lentor Hills Road

The transactions adhere to CapitaLand Wellness Fund’s fulfillment of the mutual purchase of a freehold lodging property in Singapore previous month. Upon the finish of the property development of OMEGA 1 Bang Na, the overall investment value of these four procurements are going to be about $700 million, taking CLI’s funds following supervision in the area to $1.2 billion.

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