Singapore and Malaysia to develop $10bln real estate projects

These are part of the agreement that had Malaysia giving up its control of railway land in Singapore.

A Reuters report said Singapore's Temasek and Malaysia's Khazanah will develop real estate projects in the two countries through joint ventures.

“A 60:40 joint venture between Khazanah and Temasek will develop S$11 billion ($8.88 billion) worth of projects in six land parcels near Singapore's central business district, the statement said. The projects will have office, residential, hotel and retail components,” said the report.

Meanwhile a 50:50 joint venture will develop $986 million worth of property projects in Malaysia's Iskandar region.

View the full report here.

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