CapitaLand

History

In 2000, Pidemco Land and DBS Land merged to form CapitaLand Group Pte. Ltd.

On 19 November 2002, CapitaLand Ascendas REIT (CLAR) was listed on SGX-ST. Formerly known as Ascendas Real Estate Investment Trust, CLAR is Singapore's first and largest listed business space and industrial REIT.

In 2017, CapitaLand came into controversy when the company attempted to evict the Franses Art Gallery from the Cavendish Hotel in London. CapitaLand acquired the property in August 2012. The case would go to the Supreme Court of the United Kingdom, which ruled against CapitaLand and upheld Franses Art Gallery's request for a new 15-year lease.

On 14 January 2019, the Group announced that it would acquire Ascendas-Singbridge, a real estate group, from Temasek Holdings in an S$11B deal, which was completed on 30 June 2019. On 3 July 2019, it announced that Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust would be merged, forming Asia's largest hospitality trust with S$7.6b in combined assets.

On 22 January 2020, CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) announced the merger of both REITs to form CapitaLand Integrated Commercial Trust (CICT), which would become the largest Singapore REIT and one of the largest REITs in the Asia Pacific with an asset base of S$22.4 billion.

On 22 March 2021, CapitaLand Group announced the proposed restructuring of its business.

On 20 September 2021, CLI debuted on the Singapore Stock Exchange under the trading name CapitaLandInvest and stock code, 9CI.

On 27 September 2021, CapitaLand Ascendas REIT brought its London data centre footprint to five in 2023 by buying the 31MW Chess Building data centre from Digital Realty for £125.1m ($159m).

In March 2024, CapitaLand India Trust acquired an industrial property from developer Nalanda Shelter Private in the Indian state of Pune for 7.73bn Indian rupees (€86m).

Notable Projects

Lodging

The Ascott Limited, a wholly owned subsidiary of CapitaLand, was established in 1984 with the opening of The Ascott Singapore. It operates serviced residence properties in more than 220 cities across over 40 countries worldwide.

Alleged bribery claims (2025)

In 2025, a civil lawsuit filed in Singapore alleged that senior employees linked to CapitaLand accepted bribes from a long-time contractor involved in its India projects. The case was brought by a Singapore construction company against a former director who oversaw its India investments.

CapitaLand was not a party to the lawsuit but was mentioned in court filings by both sides. The allegations had not been proven in court, and no findings of wrongdoing had been made at the time.

References

References

1. (2012). "The Art of Building - CapitaLand Limited Annual Report 2011". CapitaLand Limited.
2. (January 5, 2026). "Ares Hires CapitaLand’s Gabriel Fong as Partner for Asia Credit - Bloomberg". Bloomberg.
3. "CapitaLand is formed".
4. (5 January 2017). "CapitaLand to appear before London courts over dispute with UK art gallery".
5. "S Franses Ltd v Cavendish Hotel (London) Limited".
6. (14 January 2019). "CapitaLand to buy real estate group Ascendas-Singbridge from Temasek in S$11b deal".
7. (14 January 2019). "CapitaLand to buy Temasek unit Ascendas-Singbridge in $11b deal, creating Asia's biggest diversified real estate group".
8. (30 June 2019). "CapitaLand completes $11b acquisition of Ascendas-Singbridge, to operate as unified entity from July 1".
9. (10 August 2021). "CapitaLand shareholders vote in favour of restructuring plan". The Straits Times.
10. "CapitaLandInvest Dividend Yield (9CI)".
11. "CapitaLand buys Digital Realty data center in London, UK".
12. "CapitaLand India buys INR7.7bn industrial asset in forward purchase deal".
13. (2024-10-24). "Listening Post".
14. (2025-08-21). "Ex-director at Lee Kim Tah-Woh Hup JV sued amid allegations former CapitaLand staff took bribes in India". The Straits Times.
15. (August 21, 2025). "Singapore’s CapitaLand Staff Took Bribes in India, Suit Alleges". Bloomberg News.