On Wednesday, CapitaLand Investment announced it had secured two investment-grade bonds for S$1.85 billion (US$1.36 billion) with tenors of 1.5 years and 5 years, respectively.This marks the largest debt issuance by a single real estate company in Singapore and the first such issuance on the local bond market since the onset of the Covid-19 pandemic in Singapore.
Investing in property in Singapore as a foreigner requires a thorough understanding of the country’s regulations and restrictions. Generally, foreigners are allowed to purchase condominiums with few limitations, unlike landed properties which have stricter ownership rules. Nevertheless, foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property acquisition. Despite this additional expense, the stability and potential for growth in the Singapore real estate market continue to draw in foreign investors. Stay updated on the latest opportunities in Singapore’s property market, including new condo launches.
CapitaLand Group has recently entered into a memorandum of understanding (MoU) with Microsoft, in order to leverage artificial intelligence (AI) and advanced technologies for its diverse range of businesses. As part of this partnership, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, which will enable them to utilize Microsoft’s platforms, services, and solutions to enhance customer engagement and improve operational efficiency across its funds, investment, retail, lodging, and development business units. This collaboration also includes identifying potential areas of collaboration for infrastructure development, utilizing Microsoft’s Azure cloud computing platform to develop CapitaLand Investment’s data center design and products, as well as integrating AI, data analytics, and machine learning to strengthen its digital and business transformation efforts.
Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment, stated, “Our collaboration with Microsoft is a significant milestone in CapitaLand’s digital transformation journey. We recognize the pivotal role of AI in shaping our future, and we are confident that it will not only drive operational efficiencies but also create value for all our stakeholders.” As part of this digital transformation journey, CapitaLand Investment, the real asset management arm of CapitaLand, also signed an MoU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across its retail ecosystem. This partnership aims to facilitate the adoption and proof of concept for AI, data analytics, and cybersecurity solutions to enhance business efficiency and competitiveness, as well as develop AI-focused competency and skills among retail tenants.
In addition, on Wednesday, CapitaLand Investment announced that it had successfully secured two investment-grade bonds with a total value of S$1.85 billion (US$1.36 billion) and maturities of 1.5 years and 5 years, respectively. This marks the largest debt issuance by a single real estate company in Singapore and the first such issuance on the local bond market since the onset of the Covid-19 pandemic in Singapore. These bonds are expected to strengthen CapitaLand’s financial position, enabling it to navigate any potential challenges brought about by the ongoing pandemic.