CapitaLand is reported to be in talks to develop a 60-acre site in India. The Economic Times of India said in a report that CapitaLand will invest 7 billion rupee (S$250 million) in a joint venture to develop the land.
It said the equal joint venture will involve Indian-based D.S. Kulkarni Developers.
Other reports have said half of the land will be developed into residential property, with the remaining to be used for a special economic zone.
In response, CapitaLand informed the Singapore Exchange that it is currently sourcing for various opportunities in India.
The developer said it will make an announcement if there are any firm developments. - CNA /ls
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