CapitaLand Investment Limited (CLI), a global real asset manager, has signed a Memorandum of Understanding (MoU) with the Maharashtra government to invest over Rs 192 billion by 2030, strengthening its presence in the Mumbai and Pune commercial real estate markets. The announcement was made on 12 August during the launch of CLI’s first data centre in India, located in Navi Mumbai. The event was attended by Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, and Maharashtra Chief Minister, Devendra Fadnavis.

The planned investments will span business parks, data centres, logistics and industrial parks across Maharashtra, where CLI has been active since 2013. Its entry into the state began with the International Tech Park Pune, Hinjawadi (ITPP-H), developed in partnership with the Maharashtra Industrial Development Corporation (MIDC).

Over the past decade, CLI has invested more than Rs 68 billion (S$1 billion) in 10 assets, including business parks, data centres and logistics facilities in Mumbai and Pune. The new investment plan forms part of CLI’s broader India growth strategy, aimed at expanding its funds under management and reinforcing confidence in Maharashtra’s position as a hub for innovation, services, digital infrastructure, manufacturing, and logistics.

“India is a core market for CLI, and Maharashtra, with its strong economic fundamentals and well-developed IT and industrial ecosystem, presents significant opportunities for growth,” said Sanjeev Dasgupta, CEO of CLI India. “We will continue to scale our investments in Maharashtra through our listed trust, CLINT; our private funds; and the Ascendas-Firstspace platform, strengthening our partnership with the state.”