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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.