Famous construction company CapitaMalls Asia has decided to invest Rs 1,800 crore to increase its business in India. In the next three years company will fund the malls that are still under construction with new seven new malls across the country. Kevin Chee, CEO and head of Capitamalls Asia said in his recent interview that company has joined hands with two Indian based construction companies. The Bangalore based Prestige Estate Projects Ltd will after projects operational in South and Advanced India Projects Ltd will work in the North. Both these companies will work together with CapitaMalls Asia.
Company has already owned some big malls in India like Forum Value Mall in Bangalore and The Celebration Mall in Udaipur. Apart from these malls seven other malls are under construction in Bangalore, Mangalore, Hyderabad, Mysore, Kochi, Jalandhar and Nagpur. These seven malls will be completed between 2012 and 2013.The company has owned total 92 Malls across five countries and more than half that is 53 of them are in China. The property of this company is estimated to be around $23.7 million with a total constructing space of 73.4 million sq ft. The revenue contribution by Indian malls is approximately2.1 percent of total property and a space of 9.8 percent.
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