Singapore-based real estate developer CapitaLand has launched a S$50m ($37.8m) investment fund focused on sustainability in the “built environment”.
The corporate will deploy capital from the CapitaLand Innovation Fund over the next five years with the aim of fostering sustainability-focused innovation in property development.
Lee Chee Koon, group chief executive officer of CapitaLand (pictured right), said: “Innovation is key to CapitaLand’s business and culture as we seek to deliver sustainable value to our stakeholders.
“The CapitaLand Innovation Fund will enable us to catalyse more innovations, accelerate our global sustainability efforts and ensure that we remain at the forefront of technology in the built environment space.”
CapitaLand had launched corporate venturing unit C31Ventures in 2016, before later revealing that it had ceased operations in 2019.
In October 2020, CapitaLand partnered the Singaporean government’s Infocomm Media Development Authority and business promotion board Enterprise Singapore to open the Smart Urban Co-Innovation Lab.
Photo courtesy of CapitaLand.