Upon completion, the five-storey facility will have a gross floor area (GFA) of 764,244 sq ft (Photo: CLI)
CapitaLand Investment (CLI) will develop its first smart logistics facility, OMEGA 1 Singapore, as part of its next phase of logistics growth across Asia Pacific. According to a Jan 8 release, the facility comes alongside the company’s acquisition of a minority stake in Ally Logistic Property (ALP), a pioneer in modern smart logistics infrastructure based in Asia. ALP is also an existing capital partner in the CapitaLand Southeast Asia Logistics Fund (CSLF).
The development of OMEGA 1 Singapore comes on the back of CSLF’s acquisition of a 5.1-hectare site at 19 Gul Lane for a total development cost of $260 million.
The development, slated for completion in 2028, will be located within the Jurong Industrial Estate. According to data by CBRE, occupancy within the area has remained strong at above 90% over the past decade, and exceeded 96% as at end-2024.
Upon completion, the five-storey facility will have a gross floor area of 764,244 sq ft, with a storage capacity of 60,000 pallet positions. It is set to feature state-of-the-art technologies such as robotics, an automated storage and retrieval system and automated guided vehicles to support efficient end-to-end inventory management, says CLI.
The facility is expected to be fully leased to ALP under a long-term master lease with built-in rent escalation, providing CSLF’s investors with stable and growing income.
“Over the past two years, CLI has deployed approximately S$500 million into logistics developments across Southeast Asia, accelerating the expansion of its regional platform,” says Patricia Goh, CEO of Southeast Asia and global head of logistics and self-storage, and private funds at CLI.
Goh adds: “Our partnership with ALP combines their deep expertise in logistics automation with CLI’s capabilities in fund management, capital raising and deal sourcing, enhancing our ability to capture new growth opportunities across the wider Asia Pacific region and the US.”