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Surbana Jurong enhances presence in Africa, buys stakes in two firms

SURBANA Jurong Private Limited on Wednesday announced two stake acquisitions in a bid to entrench its presence in Africa and ramp up its building design capabilities respectively.

It has acquired a 20 per cent stake in CITICC (Africa) Holding Limited, a US$300 million investment platform set up between IFC, a member of the World Bank Group, and Chinese construction and engineering firm Citic Construction Co. The latter is a wholly owned unit of Hong Kong-listed Citic Limited.

Surbana Jurong is also investing US$9.25 million in FLUX Factory Inc, a San Francisco-based software company that is a spin-out from Google X, a development lab by Google.

Since June 2012, FLUX Factory builds collaborative cloud-based software tool leveraging FLUX's big data analytics solution that is applied to building design, urban solutions and master planning.