CapitaLand plans European expansion
Singapore-listed CapitaLand is to expand into Europe and the US.
The real estate asset manager said it had set aside “significant capital” for M&A and new growth as part of a new strategy.
The group said it would drive growth-focused use of its capital to achieve its target of doubling funds under management to S$200bn (£118bn) by 2028 and its operating earnings to S$1bn, with 60-70% coming from free income-related businesses.
Singapore-listed CapitaLand is to expand into Europe and the US.
The real estate asset manager said it had set aside “significant capital” for M&A and new growth as part of a new strategy.
The group said it would drive growth-focused use of its capital to achieve its target of doubling funds under management to S$200bn (£118bn) by 2028 and its operating earnings to S$1bn, with 60-70% coming from free income-related businesses.
CapitaLand said it expected growth to be driven by the steady expansion of its REITs platform, accelerated private funds growth and M&A.
Group chief executive Lee Chee Koon said: “CLI’s fund management platform is well positioned for growth. Our foundation in Asia Pacific has been laid, and we will drive further geographical diversification which is necessary for CLI’s future growth.
“We will rebalance our portfolio to grow our India and south-east Asia businesses, optimise our China portfolio, leverage M&A to grow in our focus markets of Japan, Korea and Australia, and look to ex-Asia developed markets such as the US and Europe next.”
CapitaLand said its growth strategy would focus on three secular trends – demographics, disruption and digitisation – and would see it investing in the living sectors, logistics and self-storage and data centres.
