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GIC and Indonesia's Rajawali Group to form property JV

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Published Tue, Nov 25, 2014 · 09:50 PM

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GIC on Tuesday said it would partner Rajawali Group, one of the largest investment companies in Indonesia, in jointly investing up to US$500 million in equity in property projects in Indonesia - a sign of warming ties between the two investment giants.

The investments will focus on Jakarta's Central Business District (CBD), GIC said in a media statement, with the two partners teasing out deals in office, retail, residential and mixed-use projects.

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