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 CapitaLand
plans to duplicate its China strategy in India, which is to focus first
on the gateway cities, including Mumbai, New Delhi and Bangalore, and
then venture out. Liew Mun Leong, CEO of CapitaLand said, "We have
already formed a fund in Singapore which will invest in India. This fund
will be used to invest in the funds in Asia.
Being the largest retail property landlord and manager
in Singapore, CapitaLand said the two joint ventures will give it immediate
presence and scale within India, with 15 predominantly retail projects
across 14 cities.
One of its partners, the Prestige Group, will give it
greater access to South India while the other, Advance India Projects,
will help it expand in the northern India.
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