CapitaLand Ltd. through its indirect wholly-owned subsidiary, CapitaLand Retail India Investments Pvt. Ltd. entered into two separate Joint Ventures (JVs) with Advance India Projects Ltd. (a Delhi-based developer) and the Prestige Group (a Bangalore-based real estate player) respectively to invest, develop and manage retail projects in India.

Liew Mun Leong, President and CEO of CapitaLand Limited said the two partnerships, with an identified portfolio of 15 properties which are strategically located in 14 cities across India will provide CapitaLand with a head start in the retail real estate business in both North and South India. Irfan Razack, Chairman and Managing Director of Prestige Group, called the joint venture with CapitaLand a ‘key milestone.’