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CapitaLand Investment exceeds divestment target for 2024 following sale of ION Orchard

The Edge Singapore
The Edge Singapore  • 3 min read
CapitaLand Investment exceeds divestment target for 2024 following sale of ION Orchard
CLI divested $4.6 billion of assets ytd, of which ION Orchard is the largest. Photo: CICT
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In its 3QFY2024 updates for the quarter to Sept 30, CapitaLand Investment (CLI) reported that it has exceeded its divestment target of $3 billion for 2024 including assets divested after the end of the third quarter.

Notably, it divested its 50% stake in ION Orchard to CapitaLand Integrated Commercial Trust C38U (CICT) for $1.87 billion, which completed on Oct 30.

CLI also sold eight more US multifamily assets, bringing the total sales this year to 16 assets for $1.2 billion.

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