“By the end of this year, we will have 10 million sq ft of office space operational, and another 10 million sq ft under development,” Quek says. When complete, Mapletree’s India AUM will be valued at $5 billion, he adds.
India is a challenging market for foreigners to navigate. As a case in point, since 2000, the Singapore Exchange (SGX) has had only one successful Indian listing: CapitaLand India Trust. Yet, a second Singapore entity is also making something of a success out of India.
As at March 31, Mapletree’s India business unit has assets under management (AUM) of $2.7 billion. The Edge Singapore caught up with Quek Kwang Meng, regional CEO, India, at Mapletree Investments, to learn how he has navigated the nuances of the subcontinent without local partners.
