CapitaLand Investment secures $2.4 billion real estate mandate from Income Insurance
Capital Tower on Robinson Road is CapitaLand's headquarters (Photo: CapitaLand Investment Ltd)
Singapore-based global real estate manager CapitaLand Investment Limited (CLI) announced on April 23 that it has secured a $2.4 billion mandate to manage the direct real estate portfolio of Income Insurance Ltd.
The portfolio comprises retail, commercial and industrial assets held directly by Income Insurance, as well as those under its joint ventures.
Beyond managing existing assets, CLI will also source and evaluate new investment opportunities for Income Insurance across the Asia-Pacific region.
The mandate adds to CLI’s growing deal pipeline in Singapore, which has exceeded $12.1 billion from 2025 to 2026. Recent transactions include the $490 million joint acquisition of Ascent, a business park development in Singapore Science Park, by CapitaLand Ascendas REIT and a global sovereign wealth fund.
Separately, CapitaLand Integrated Commercial Trust has announced the divestment of Asia Square Tower 2 for $2.5 billion and the acquisition of Paragon for $3.9 billion, underscoring continued capital recycling within the CapitaLand ecosystem.
Andrew Lim, CLI: We will continue to strategically invest into best-in-class operating platforms aligned with long-term themes such as demographics, disruption and digitalisation, complemented by CapitaLand Development’s expertise (Photo: CapitaLand Investment)
CLI says it will continue to invest in its home market of Singapore while pursuing capital recycling strategies across multiple asset classes to drive higher returns for investors.
The firm will “continue to strategically invest into best-in-class operating platforms aligned with long-term themes such as demographics, disruption and digitalisation, complemented by CapitaLand Development’s expertise”, says Andrew Lim, CLI group COO and CEO of real estate and private funds.
“Real estate is an important and strategic asset class in our investment portfolio,” says David Chua, chief investment officer of Income Insurance. “We are pleased to partner with a strong and trusted partner like CLI for our Singapore real estate portfolio.”
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