Income Insurance hands $2.4b real estate mandate to CapitaLand Investment

It will manage Income Insurance’s Singapore assets and pursue APAC investments.

CapitaLand Investment Limited (CLI) has been appointed to manage Income Insurance Limited’s $2.4b direct real estate portfolio, taking over responsibility for a mix of retail, commercial, and industrial assets held directly and through joint ventures.

Under the mandate, CLI will oversee the performance of Income Insurance’s Singapore properties and explore new real estate investments for the insurer across the Asia Pacific.

The appointment comes amidst a strong run of transactions for CLI in Singapore, with more than $12.1b in deals completed in 2025 and so far in 2026.

The company has been actively reshuffling assets in its home market as part of a broader capital recycling strategy aimed at improving returns.

Recent activity includes the $490m joint acquisition of the Ascent business space property by CapitaLand Ascendas REIT and a global sovereign wealth fund.

More recently, CapitaLand Integrated Commercial Trust sold Asia Square Tower 2 for $2.5b and agreed to acquire Paragon for $3.9b.

CLI said these transactions contribute to its fee income whilst reflecting its ability to connect large institutional investors with major real estate deals in Singapore.