The CEO and country head of CapitaMalls Asia, Singapore-based develops, owns and manages malls across Asia, will invest INR 1,800 cr in India. He also said, “apart from funding the two malls that are operational now, this money would be also used to develop 07 another malls in India.” The company has put-on 02 joint ventures in India, with Bangalore-based Prestige Estate Projects Ltd for projects in the South and with Advanced India Projects Ltd for projects in the North.
The ventures now own the Forum Value Mall in Bangalore which was opened in 2009 and The Celebration Mall in Udaipur, early this year. The other committed projects in India are under different stages of development in Bangalore, Mangalore, Hyderabad, Mysore, Kochi, Jalandhar and Nagpur. These malls are scheduled to be operational between end-2012 and mid-2013.