CapitaLand sells land parcel in Ahmedabad, India

Singapore property giant CapitaLand has on March 13 sold 100% interest in a company that owns a land parcel in Ahmedabad, India. The consideration was INR528.5 million (about $10.8 million).

The land plot has no development activities, says CapitaLand. Both parties arrived at the consideration based on the adjusted net asset value of the company holding the land, which as at March 7, matched the consideration.

Separately, CapitaLand announced it has invested an additional INR18.9 million in Rattha Somerset Greenways (Chennai), such that it continues to hold a 51% stake in the unit.

Related Articles From
CapitaLand announces first integrated development in Vietnam worth $285 mil
Raffles City Chongqing boasts ‘world’s highest sky bridge’
GIC frontrunner in acquisition of 40% stake in India office space landlord Prestige for US$200 mil: report
Singapore Home Prices May Rise Up to 10%, CapitaLand CEO Says