CapitaLand Investment acquires three properties in Singapore and Thailand

The commercial assets are attained by Extra Space Asia (ESA), the Asia-focused self-storage platform regulated by CLI, whilst the 20-hectare property greenfield location OMEGA 1 Bang Na in Bangkok is gained by CapitaLand SEA Logistics Fund (CSLF).

Ready to be Thailand’s biggest standalone warehouse, the modern ramp-up campus will be managed by Ally Logistic Property when completed. Building and construction is scheduled to start in 1H2024, with phase one expected to be completed in 2026.

At the same time, OMEGA 1 Bang Na is CLI’s primary logistics property in Thailand. As a built-to-suit undertaking, CSLF will create a state-of-the-art programmed logistics campus with a gross flooring area of 2.47 million sq ft, with the ability of fitting over 150,000 pallet positions in an automated storage and access system.

Tembusu Grand Singapore

“By incorporating our capability of value development with best-in-class running abilities and making use of the sector-specific sector knowledge of our funding associates and operators, these budget are held to provide favorably to our fee-related incomes and create lasting returns to our buyers,” she includes.

CapitaLand Investment (CLI) has already acquired 2 commercial real properties in Singapore and a property greenfield spot in Bangkok, Thailand.

ESA is readied to broaden its portfolio in Singapore with around 320,000 sq ft in gross flooring area by the end of 1Q2024. Upon achievement of the purchases, ESA plans to switch both properties into self-storage facilities in stages, offering air-conditioned units and centers for a drink storage space.

The transactions follow CapitaLand Wellness Fund’s finalization of the joint procurement of a property lodging real estate in Singapore past month. Upon the finalization of the property development of OMEGA 1 Bang Na, the total financial investment value of these 4 procurements will probably be approximately $700 million, carrying CLI’s budget within management in the region to $1.2 billion.

Looking forward, these most recent purchases are readied to feed the following stage of development for each and every of these CLI-managed funds, mentions CLI Southeast Asia Investment CEO Patricia Goh.

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