Capita Land Realty
Singapore, 22 January 2008 - CapitaLand Limited (CapitaLand) is pleased to announce that it has through its indirect wholly-owned subsidiary, CapitaLand Retail India Investments Pte. Ltd. (CapitaLand Retail), entered into two separate Joint Ventures (JV) with Advance India Projects Limited (AIPL) and the Prestige Group (Prestige) respectively to invest, develop and manage retail/predominantly retail projects in India. AIPL is a renowned Delhi-based developer with a strong presence in North India. Prestige is a well-established Bangalore-based real estate player with an extensive footprint in South India. The two strategic partnerships provide CapitaLand with a unique opportunity to invest and manage an immediate portfolio of 15 retail/predominantly retail projects strategically located in 14 cities Pan-India. The eight projects, identified under the JV with AIPL, and seven projects, identified under the JV with Prestige, have a total asset value of over S$2.12 bill
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