CapitaLand, a big real estate and money management company, is set to pour a huge amount of money into Maharashtra. This bold new promise, announced today, aims to sharply boost key parts of the state’s economy, creating many new jobs and driving fast growth. This major move by the Singapore-based firm shows strong trust in Maharashtra’s future, as the state works hard to become a top place for business in India. The funds will go into crucial areas like business parks, data centers, logistics. industrial projects, paving the way for big changes and a stronger, better future for the people living in Maharashtra.
Big Investment Plan for Maharashtra
CapitaLand Investment Limited (CLI), a major company that manages real estate assets worldwide, has made a big promise to invest in the Indian state of Maharashtra. The company has signed an agreement, known as a Memorandum of Understanding, with the Maharashtra government. This agreement shows CapitaLand’s plan to put more than INR 19,200 crores into key growth areas in the state by the year 2030.
This large investment, which is about S$2. 83 billion or US$2. 19 billion, is set to boost development in two vital cities, Mumbai and Pune. The funds will go into several essential business areas. These include building and expanding business parks, setting up more data centers. developing new logistics and industrial parks. The announcement of this major plan came as CapitaLand launched its first data center in Navi Mumbai, a significant step for the company in India.
Key Areas of Growth
The investment by CapitaLand will focus on four main types of properties that are essential for the economy. These are business parks, which offer office spaces for many companies; data centers, which store and manage vast amounts of digital data; logistics parks, which are places for storing and moving goods; and industrial parks, which provide space for factories and manufacturing.
Each of these areas supports different parts of the modern economy. Business parks are key for the data technology and service industries. Data centers are vital for the growing digital economy and internet use. Logistics and industrial parks are vital for making and moving goods, which helps trade and commerce. This wide range of investments shows CapitaLand’s belief in the strong economic future of Maharashtra.
Building on Past Work
CapitaLand has been working in Maharashtra for over ten years. Its journey in the state began in 2013 with the creation of the International Tech Park Pune, Hinjawadi. This project was done in partnership with the Maharashtra Industrial Development Corporation (MIDC).
Over the last ten years, CapitaLand has put more than INR 6,800 crores (about S$1 billion or US$775 million) into ten different properties in Mumbai and Pune. These past investments covered business parks, data centers. logistics buildings. This history shows a steady and growing presence in the region, with the new investment being a big step forward from these past successes.
Leaders Share Views
Officials from both CapitaLand and the Maharashtra government shared their thoughts on this vital agreement. Sanjeev Dasgupta, who is the Chief Executive Officer of CapitaLand Investment India, explained why Maharashtra is a key place for the company.
“India is a core market for CLI. Maharashtra, with its strong economic fundamentals and well-developed IT and industrial ecosystem, presents significant opportunities for us to grow our footprint.”
Mr. Dasgupta also said that CapitaLand will continue to increase its investments in Maharashtra through its listed trust, CapitaLand India Trust (CLINT), various private funds. the Ascendas-Firstspace platform. This shows a clear path for future growth and a deep commitment to the state’s commercial and industrial progress.
The announcement event was also attended by vital guests, including Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Mr. Gan Kim Yong. Maharashtra’s Deputy Chief Minister, Shri Devendra Fadnavis. Mr. Gan Kim Yong noted that Navi Mumbai is becoming a vital digital hub in India, helping to strengthen the country’s digital economy.
“Navi Mumbai is an vital digital hub in India, along with cities like Mumbai, Chennai, Hyderabad. Bengaluru. This center will strengthen India’s digital economy.”
Deputy Chief Minister Devendra Fadnavis also highlighted the potential for job creation, with the investment possibly generating 60,000 direct job opportunities in the state.
Boosting Digital Infrastructure
A big part of CapitaLand’s new investment is focused on data centers. These facilities are crucial for handling the huge amount of data generated by internet users and digital services. CapitaLand India Trust (CLINT) already manages four data center projects in major Indian cities, including Mumbai.
In Navi Mumbai, the first part of CapitaLand’s data center, with a power capacity of 54 megawatts, is now fully rented out and has started its operations. Construction for a second part of the same size is already underway. The company also has three other data centers in different stages of development. These new data centers are designed to be modern and energy-efficient, using features like high-efficiency cooling systems and solar panels to be more sustainable.
The demand for data center space in India is growing very fast, with the country’s internet users driving much of this need. Experts say that the total capacity of data centers in India could grow significantly by 2030. CapitaLand’s focus on these facilities helps meet this increasing demand and supports India’s move towards a more digital economy.
Growing Industrial and Storage Spaces
Beyond data centers and business parks, CapitaLand is also heavily investing in logistics and industrial parks. These parks are places where companies can store goods, set up factories. manage their supply chains. In Mumbai and Pune, CapitaLand currently runs five such parks under its Ascendas-Firstspace brand, covering about 5. 3 million square feet of space.
The company also operates a large storage park in Panvel, Mumbai, which covers 1. 2 million square feet. Looking ahead, CapitaLand has plans for many more logistics projects, with a pipeline totaling 17 million square feet under Ascendas-Firstspace. These new spaces will serve the rising needs of online shopping companies, manufacturing businesses. third-party logistics providers in Maharashtra. This expansion in logistics infrastructure is key for improving how goods are moved and stored, which helps businesses operate more smoothly and efficiently.
More Jobs and State Progress
The significant investment by CapitaLand is expected to bring many benefits to Maharashtra, including the creation of new jobs. Maharashtra’s Deputy Chief Minister, Shri Devendra Fadnavis, highlighted that the investment could lead to as many as 60,000 direct job opportunities. This will provide new work for many people in the state, helping to improve their lives and the local economy.
The state of Maharashtra has consistently shown itself to be a top choice for foreign companies looking to invest. Government figures show that Maharashtra has attracted a large share of the country’s total foreign investment, making it a leading state for such funds. This strong ability to attract investment is a sign of Maharashtra’s good economic conditions and its friendly environment for businesses. The ongoing support from the state government is seen as an crucial factor by companies like CapitaLand, encouraging them to make large and long-term commitments.
Future Goals for India
The large investment in Maharashtra is a vital part of CapitaLand’s bigger plan for growth in India. The company has stated its aim to significantly increase its total funds under management in India. From over S$8 billion currently, CapitaLand plans to grow this to around S$15 billion by the year 2028.
This goal shows CapitaLand’s strong belief in India’s economic potential and its long-term commitment to the country’s real estate sector. The investments in Maharashtra’s business parks, data centers. logistics facilities are central to achieving this wider goal, making Maharashtra a key area for CapitaLand’s overall growth strategy in India. The company’s nearly 30 years of experience in India also gives it a strong base for future expansion.
