CapitaLand Investment Limited (CLI), a Singapore-based real asset manager, has signed a Memorandum of Understanding with the Maharashtra Government to invest over INR19,200 crores (S$2.83 billion) in Mumbai and Pune by 2030. This major investment will expand CLI’s reach across business parks, data centres, logistics, and industrial facilities, accelerating the growth of Maharashtra’s key commercial and tech corridors.
Strategic Expansion in Maharashtra
CLI’s new investment agreement with the Maharashtra Government builds on over a decade of partnership, including notable projects like International Tech Park Pune, Hinjawadi. CLI’s presence in the region already includes ten major assets and has previously poured INR6,800 crores (SGD $1 billion) into these booming markets.
Scaling Business Parks and Data Centres
CLI plans to expand its business parks footprint—from International Tech Park Pune (Hinjawadi & Kharadi) to aVance Pune and Aurum Q Parc in Mumbai—adding another 4.5 million sq. ft. to its existing 9.7 million sq. ft. in Maharashtra.
On the data centre front, CLI has four active projects in India, with two major towers in Mumbai. The first 54 MW Mumbai tower is fully operational and leased; a second tower of equal size is under construction, marking CLI’s commitment to India’s digital infrastructure.
Logistics and Industrial Footprint
CLI’s logistics and industrial parks include five parks in Mumbai and Pune under the Ascendas-Firstspace banner, plus a 1.2 million sq. ft. warehousing hub in Panvel. The new pipeline aims for 17 million sq. ft. in future logistics developments—primed to support eCommerce, manufacturing, and third-party logistics operators.
A 2030 Vision for Indian Real Estate
CLI’s plan aligns with its goal to nearly double funds under management—from SGD $8 billion to $15 billion by 2028—cementing Maharashtra’s role at the center of its India expansion. CLI’s Indian portfolio already spans 55+ assets across eight cities, including major centers like Bangalore, Chennai, Goa, Gurgaon, Hyderabad, Kolkata, Mumbai, and Pune.
FlexInsights Take
CapitaLand’s renewed push in Maharashtra reinforces Western India’s status as a magnet for global capital, talent, and technology. Their massive investment signals continued faith in the resilience and growth of Pune and Mumbai’s commercial ecosystems—even against global headwinds. For occupiers, the increased business park and data centre supply will mean more choice, better sustainability standards, and likely greater innovation in workspace solutions. With logistics and warehousing a key part of the expansion, expect CLI-powered assets to play a major role in powering India’s digital and physical economies through 2030 and beyond.
