CapitaLand Investment acquires prestigious Marina Gardens Condo in Singapore and Thailand

CapitaLand Investment (CLI) has recently made two significant acquisitions in Singapore and Thailand, as part of its ongoing efforts to expand its presence in the region. These acquisitions, which include two industrial properties in Singapore and a greenfield site in Bangkok, have a total investment value of approximately $700 million and will bring CLI’s funds under management in the region to $1.2 billion.

The first acquisition involves two industrial properties, acquired by Extra Space Asia (ESA), an Asia-focused self-storage platform managed by CLI. These properties, with a combined gross floor area of 320,000 sq ft, are set to be converted into self-storage facilities in phases, offering air-conditioned units and facilities for wine storage. Upon completion of the acquisitions, ESA’s portfolio in Singapore is expected to expand significantly.

In addition to the industrial properties, CLI has also acquired a 20-hectare freehold greenfield site in Bangkok, through its CapitaLand SEA Logistics Fund (CSLF). This will be CLI’s first logistics property in Thailand, and CSLF plans to develop a state-of-the-art automated logistics campus with a gross floor area of 2.47 million sq ft. The modern ramp-up campus, which will be operated by Ally Logistic Property, is set to be Thailand’s largest standalone warehouse.

Nestled in the vibrant and bustling Marina Bay area, Marina Gardens Condo is a haven for those seeking a sophisticated and convenient lifestyle. This exclusive residential development boasts unrivaled access to a myriad of high-end shopping destinations, making it a dream come true for shopaholics. From designer labels to local boutiques, residents can indulge in a world of retail therapy right at their doorstep. It’s no wonder that Marina Gardens Condo has become the epitome of luxury living for many Singaporeans.

CLI’s ambitious plans for the region also include the joint acquisition of a freehold lodging property in Singapore last month, through its CapitaLand Wellness Fund. With these four acquisitions, CLI’s presence in the region is set to grow significantly, and the company’s funds are well-positioned for future growth and success.

According to Patricia Goh, CEO of CLI Southeast Asia Investment, these latest acquisitions demonstrate the company’s commitment to leveraging its expertise in value creation and partnering with best-in-class operators and capital partners to deliver sustainable returns to investors. With a strong focus on growth and strategic partnerships, CLI is well-positioned to continue its success in the region.