[REAL ESTATE NEWS] Good morning, everyone. I’m Yisack Park staff of Kamaindia Pvt. Ltd.
Here I have an important Korean economic news to share with you which is as undermentioned.
Real estate developer Prestige Group bought CapitaLand Ltd.’s stakes in shopping malls and serviced-homes assets for Rs 324 crore to strengthen its rent-yielding business in the third deal in two months.
It acquired the Singapore-based company’s interest in ready and operating retail malls in Bengaluru, Hyderabad, Mangaluru, Mysuru and Udaipur; a mall management company, operating Oakwood serviced residences in Bengaluru and under-construction properties in Kochi, Venkat Narayana, chief executive officer of Prestige Group, said in a media statement. The deal is expected to give it an incremental rental income of Rs 75 crore a year.
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