CapitaLand In Talks To Develop Site Near Pune, India

Source : The Business Times, October 4, 2007

CapitaLand, Southeast Asia's biggest developer, is in talks with an Indian company to develop a piece of land near Pune in India, a source familiar with the negotiations said on Thursday.

The source's comments follow a report in India's Economic Times that the Singapore company will invest around Rp7 billion in a 50:50 joint venture with India's DS Kulkarni Developers to develop 60 acres of land.

CapitaLand said in a regulatory statement following the news report that it was sourcing for various opportunities in India, and will make an announcement if there are firm developments. -- REUTERS