Surbana Jurong enlarges footprint in Africa, sharpens design might

Singapore

SURBANA Jurong Pte Ltd on Wednesday announced two equity investments that will entrench its presence in Africa and ramp up its building-design capabilities.

It is taking a 20 per cent stake in CITICC (Africa) Holding Ltd, a US$300 million investment platform launched by International Finance Corporation (IFC) and Citic Construction Co in May to develop affordable housing in sub-Saharan Africa.

It is also acquiring an 8.4 per cent stake in San Francisco-based building-design software company FLUX Factory for US$9.25 million.

Other Singapore investors who also took part in the current round of Series B financing for FLUX include Temasek Holdings and Far East Organization, whose investment sums were undisclosed, but The Business Times understands that Temasek…