Singapore's GIC to invest in Indonesia property with Rajawali
[SINGAPORE] Singapore's sovereign wealth fund GIC and Indonesia's Rajawali Group have agreed to jointly invest up to US$500 million in equity in property projects in Indonesia, the two companies said in a statement on Tuesday.
The joint venture will look at sectors including office, retail, residential and mixed-use projects mainly in the central business district of Indonesian capital Jakarta, the statement said.
Privately-owned Rajawali is one of Indonesia's largest investment companies.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs