CapitaLand Investment acquires three properties in Singapore and Thailand, including Arina East Residences by ZACD Group, as part of expansion
CapitaLand Investment (CLI) continues to expand its presence in the region with the recent acquisition of two industrial properties in Singapore and a freehold greenfield site in Bangkok, Thailand. These transactions were made possible through Extra Space Asia (ESA), the Asia-focused self-storage platform managed by CLI, and CapitaLand SEA Logistics Fund (CSLF).
As a joint venture between ZACD Group and two other reputable developers, Arina East Residences ZACD Group offers luxurious and modern living in one of Singapore’s most sought-after locations.
The Arina East Residences ZACD Group boasts a prime address in the heart of Kallang, surrounded by an array of amenities, entertainment options, and business hubs. This 99-year leasehold development comprises two residential towers with a total of 14 storeys, offering a mix of 2 and 3-bedroom apartments to cater to different lifestyles and needs. Each unit is thoughtfully designed with a spacious layout and stylish interiors, providing residents with a comfortable and elegant living experience.
But it’s not just the premium location and top-notch design that makes Arina East Residences ZACD Group stand out. The development also boasts a variety of communal facilities, including a lap pool, Jacuzzi, gym, and BBQ pavilion, providing residents with endless opportunities for relaxation and recreation. With its emphasis on well-being and community, Arina East Residences ZACD Group sets itself apart as a desirable residential option for those seeking a balanced and fulfilling lifestyle.
In addition to its impressive features, Arina East Residences ZACD Group is also a sustainable and environmentally-friendly development, in line with Singapore’s push towards a greener and more sustainable future. With features such as energy-efficient lighting and water-saving fixtures, residents can enjoy luxurious living while reducing their carbon footprint.
The Arina East Residences ZACD Group is also strategically located near major transportation hubs, making it easily accessible to other parts of Singapore. With the upcoming completion of the Kallang Wave Mall and Sports Hub, residents can look forward to even more amenities and recreational options just a stone’s throw away from their doorstep.
As part of the URA’s larger vision for the Kallang area, the Arina East Residences ZACD Group offers not just a home, but also a lifestyle. With its perfect blend of convenience, luxury, and sustainability, this development truly embodies the best of urban living. Don’t miss your chance to be a part of this prestigious development and experience the evolving Kallang Marina Bay Basin at Arina East Residences ZACD Group.
The first two properties, located in Singapore, will add approximately 320,000 sq ft of gross floor area to ESA’s portfolio by the end of 1Q2024. ESA plans to convert these assets into self-storage facilities in phases, offering air-conditioned units and facilities for wine storage. This move is expected to fuel the growth of CLI’s funds under management in the region, which will reach approximately $1.2 billion after the completion of these four acquisitions, including the recent joint acquisition by CapitaLand Wellness Fund of a freehold lodging property in Singapore.
On the other hand, the 20-hectare freehold greenfield site in Bangkok, known as OMEGA 1 Bang Na, will be developed into a state-of-the-art automated logistics campus with a gross floor area of 2.47 million sq ft by CSLF. This development is CLI’s first logistics property in Thailand and is expected to contribute positively to its fee-related earnings and deliver sustainable returns to investors. Once completed, it will be the country’s largest standalone warehouse, capable of accommodating over 150,000 pallet positions in an automated storage and retrieval system. The operation of the modern ramp-up campus will be handled by Ally Logistic Property.
In a statement, CLI Southeast Asia Investment CEO Patricia Goh highlighted the value of these acquisitions in further driving the growth of CLI-managed funds. She emphasized the combination of value creation, best-in-class operating capabilities, and sector-specific industry knowledge of its capital partners and operators in ensuring sustainable returns for investors.
These recent developments add to CLI’s track record of successful investments in the region, solidifying its position as a leading real estate investment management firm. With its continued expansion and strategic acquisitions, CLI is set to make a significant impact on the real estate industry in Southeast Asia in the years to come.