CapitaLand Wins 1.9 Billion Dollar Real Estate Mandate

CAPITALAND INVESTMENT LTD/SI has secured a S$2.4 billion ($1.9 billion) mandate from Income Insurance to oversee the insurer's direct real estate holdings in Singapore. The agreement covers a diverse range of retail, commercial, and industrial properties held by Income Insurance both independently and through various joint ventures.

Under the terms of the mandate, the real estate manager will focus on optimizing the performance of the current portfolio while actively pursuing new investment opportunities across the Asia-Pacific region. This move comes as the USD/SGD exchange rate remains a key factor for international valuations in the region's property markets.