The Singapore investor, CapitaLand Ltd, said on Sunday that he completed the purchase of Ascendas-Singbridge Pte de Temasek Holdings. Ltd.
The agreement creates one of the principal diversified real estate groups in Asia with a managed asset of more than 12300 million US dollars (AUM).
As of July 1, the CapitaLand Group will work as a unified entity with competencies and combined scales, the company said on Sunday.
In January, CapitaLand said it will acquire ascendances-Singbridge ownership interests owned by Temasek in two of the Ascenda-Singbridge subsidiaries, in a cash and securities transaction of S $ 11 billion ($ 8 billion).
With the complete transaction, Temasek, which had a 40.8% stake in CapitaLand before the transaction, now has about 51% of the company.
Thanks to the advantage of Ampends-Singbridge on the start of India with AUM of 2.6 billion dollars per sector, the country will become an important market for the combined group, as it will develop these new sectors of economy
"The CapitaLand group's real estate value chain has improved and expanded the global retail trade network, business, industrial and logistics park, integrated development, urban development, residential, housing, as well as fund and asset management companies cover more from 30 countries in more than 200 cities, "the company said in a statement.
Lee Chee Koon, Managing Director of the CapitaLand Group, said: "The completion marks the union of two prominent real estate agents as a unified entity. As an expanded group, we have fully integrated capabilities in four basic markets: Singapore, China, India And Vietnam, at the same time that we create a larger scale in the developed markets. With more classes of assets in these markets, we will go further to achieve a transformational growth. Diversification of our portfolio to sectors of the new economy, such as business parks, logistics and industrial properties, will provide us with a competitive advantage added through a global network of the greatest contact points. "
Investors and developers based in Singapore have acquired firmness in the Indian real estate market over the years and now they venture beyond the commercial offices to bet on emerging sectors, such as logistics projects , storage and urbanization.
Led by Integration Management Office, integration teams have been working closely to achieve the operational preparation of the CapitaLand Group before July 1.
The expanded entity will be the objective of the CapitaLand 2020 asset management under 100 million US dollars, placing it among the top 10 real estate investment managers worldwide and turning it into the manager of the three major real estate investments (REIT) quoted in Singapore Exchange – Ascendas Trust Trust Investment, CapitaLand Mall Trust and CapitaLand Commercial Trust.
"For its commerciality; Business, industrial and logistics park; integrated development, urban development; And residential companies, the expanded Group is organized through geographic lines that cover Singapore, China, India, Vietnam and other developed markets. The hosting business, as well as the business of asset and asset management, are organized as independent sectors, "said the statement.
Apart from Ascendas-Singbridge, which will now be part of the recently merged CapitaLand Group, some of Singapore's leading investors who have achieved an implant in India are GIC Pte. Ltd., Xander and, more recently, Mapletree Investment Pte. Ltd.
They are known for their interest in commercial assets and sectors such as logistics and storage, as well as for their perspective of capital and long-term investment.