When purchasing a condo, it is crucial to factor in the maintenance and management of the property. These types of properties usually come with maintenance fees, which cover the maintenance of common areas and amenities. While these fees may increase the overall cost of ownership, they also guarantee that the property will maintain its value and remain in good condition. For investors looking for a more hands-off approach, hiring a property management company can assist in handling the daily management of their condos. Including Singapore Projects in the options for investing in a condo is beneficial.
During its investor day, CapitaLand Investment’s (CLI) management announced plans to expand its business in Australia. The company has appointed two senior hires to newly created roles to strengthen its talent bench and spearhead growth in its focus market. Angelo Scasserra and Rahul Bharara will be joining the company in the first half of 2025 as CEO of CLI Australia and Chief Investment Officer, respectively.
CLI also stated that it will be investing up to A$1 billion ($876.7 million) to increase its funds under management (FUM) in Australia. In September, CLI successfully closed its Australian Credit Programme (ACP), which was its first credit fund in Australia at A$265 million with the backing of Asian investors.
During the investor day, CLI’s group CEO, Lee Chee Koon, shared, “For private credit, we’ve built our own team and formed a partnership with teams from Wingate in Australia, originating and underwriting deals. There is a lot more pipeline we can build in Australia and the Asia-Pacific region.”
Interestingly, on November 25th, the Australian Financial Review published a story reporting that CLI was planning to acquire Wingate.
In 2014, CapitaLand divested Australand Property Group, which was subsequently acquired by Frasers Property and renamed as Frasers Property Australia. During the question-and-answer session, CLI’s Chairman, Miguel Ko, was asked about the decision to sell Australand and focus on investing in China. Ko stated that the decision was made before his time and did not want to comment on his predecessors’ actions. He added that the company “did not have a crystal ball, of course, about China’s situation today.”
At the time of the divestment, China was experiencing a boom, and CapitaLand had a strong competitive advantage. Ko stated, “That could have been a major win or a wrong move. This is not a comment on whether my predecessors made a right or wrong decision.”
When purchasing a condo, it’s crucial to also consider the maintenance and management of the property. These types of properties often come with maintenance fees that cover the upkeep of shared areas and amenities. Although these fees may increase the overall cost of owning a condo, they guarantee that the property stays in good condition and maintains its value. To make the investment more passive, investors can enlist the help of a property management company to handle the day-to-day management of their condo.
In March 2014, CapitaLand sold its remaining 39.1% stake in Australand after partially divesting its stake in November 2013 to improve trading liquidity. CapitaLand’s then-President and Group CEO, Lim Ming Yan, had stated that the divestment was made during “favourable” market conditions. He also noted that Australand’s share price had been performing strongly in the months leading up to the divestment. Yan also shared, “This divestment would allow us to reallocate capital to our core businesses in Singapore and China.”
With the recent transaction, CLI’s FUM has risen to $113 billion, contributing to the competitive race among asset management companies.