Singapore’s CapitaLand Investment said on Thursday it had won a S$2.4 billion ($1.9 billion) mandate from Income Insurance to manage the Singaporean insurer’s direct real estate portfolio.
The portfolio includes retail, commercial and industrial assets held directly by Income Insurance and through joint ventures, CapitaLand Investment (CLI) said in a statement.
CLI said it will manage and seek to improve the performance of the existing Singapore assets while looking for new property investment opportunities for Income Insurance across Asia Pacific.
The real asset manager said the mandate adds to more than S$12.1 billion of transactions in Singapore in 2025 and year-to-date 2026, showing strong deal activity as it recycles capital across asset classes.
On Monday, CapitaLand Integrated Commercial Trust said it would sell Asia Square Tower 2 for S$2.5 billion and buy Paragon for S$3.9 billion. Last month, CapitaLand Ascendas REIT and a sovereign wealth fund bought business space property Ascent for S$490 million.
“CLI’s level of investment activity reflects our capital partners’ confidence in us as a trusted investment manager,” Andrew Lim, CLI group chief operating officer and CEO of real estate and private funds, said.
Reuters
