‘Real’ly Big: Singapore-Based CapitalLand Strikes $8 Billion Deal To Create Asia’s Largest Real Estate Company

Singapore-based CapitaLand Ltd has agreed to acquire two of Ascendas-Singbridge’s subsidiaries for $8 billion, thus creating the largest diversified real estate conglomerate in Asia.

While Ascendas-Singbridge has Assets Under Management (AUM) exceeding S$20 billion globally, it manages assets worth approximately S$2.6 billion in India’s business sector. It also claims to be Asia's leading provider of sustainable urban solutions.

On the other hand, CapitaLand, headquartered and listed in Singapore, is an owner and manager of a global portfolio worth over S$92 billion as of 30 September 2018.

“Geographically, the deal strengthens CapitaLand’s presence in our core markets of Singapore and China, while adding meaningful scale in India, US and Europe,” said Lee Chee Koon, President & Group CEO of CapitaLand.

“Post-transaction, the combined total assets under management (AUM) of the Group will exceed S$116 billion. The Group’s expanded asset classes will include logistics/business parks, industrial, lodging, commercial, retail and residential. Its geographical presence will span more than 180 cities across 32 countries,” a company release added.

Temasek connection

Singapore state investor, Temasek Holdings has a100 per cent stake in Ascendas and holds a 40.8 per cent stake in CapitaLand. After the deal, Temasek will own 51 per cent of the combined CapitaLand.

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