CapitaLand Investment Limited (CLI) and Pruksa Holding Public Company Limited (PSH) announced the establishment and the first close of the inaugural wellness and healthcare-related real estate fund, CapitaLand Wellness Fund (C-WELL). CLI and PSH have jointly committed an initial equity investment of SGD 350 million towards the fund's target equity size of SGD 500 million, with an option to upsize to SGD 1 billion in equity and target asset value of SGD 2.9 billion when fully deployed. C-WELL marks the second jointly established fund by CLI and PSH in their continuing strategic partnership following the launch of the CapitaLand SEA Logistics Fund last year.

C-WELL is a Southeast Asian anchored value-add fund with an initial focus on Singapore, Thailand and Malaysia. It targets investments in single or mixed-used assets across the wellness spectrum, comprising residential, lodging, senior living, clinics, medical suites, hospital facilities, and wellness- and lifestyle-oriented living solutions. The fund will also have an allocation for relevant strategic development opportunities in the Asia Pacific region.

C-WELL will adopt an operator-agnostic approach to its investments, ensuring its assets will reach a broader and more diverse user base. CLI and PSH have over 60 years of combined industry experience and are well-positioned to identify and capitalise on wellness and healthcare-related investment opportunities in these markets. This latest partnership brings together CLI's extensive experience in real estate, lodging and fund management, and its retail placemaking capabilities with PSH's deep residential development expertise and its healthcare platform, ViMUT Group, to drive C- WELL's investments across the region.

Evolving demographics and the emergence of the "longevity economy" in the region have generated significant demand for wellness-related services and assets. There is a growing emphasis on "healthspan" as individuals actively pursue holistic wellness and preventive health measures to lead longer, healthier, and more active lives.