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INDIA BUSINESS WORLD - JANUARY 16th - JANUARY 31st - 2008


CAPITALAND INKS DEAL FOR DEVELOPING 15 MALLS IN INDIA

Singapore-headquartered property development major CapitaLand announced that it has inked agreements with New Delhi-based Advance India Projects and Bangalore's Prestige Group to develop 15 malls in India. The projects will have a combined asset value of over $1.5 billion. According to CapitaLand, the projects will have a total area of more than 11 million sq ft. "We expect to deepen our retail and fund management presence in India to become a significant long-term retail real estate player there over time. These partnerships provide CapitaLand with a headstart in the retail real estate business in both north and south India," said CapitaLand's President & CEO Liew Mun Leong.

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