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Mubadala in JV with Singapore firm
- United Arab Emirates: Tuesday, April 22 - 2008 at 10:41
Abu Dhabi-based Mubadala Development Company has announced that it has formed Capitala, a real estate joint venture with Singapore-based CapitaLand, reported Gulf News. Mubadala will own a majority stake of 51% in the new company while CapitaLand will own the remaining 49%. Mubadala's CFO Carlos Obeid said the first project for Capitala will be a 1.4 million square metre mixed-use development surrounding Zayed Sports City Stadium in Abu Dhabi at a cost of $4-$5 billion.
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Jeff Florian, Senior ReporterTuesday, April 22 - 2008 at 10:41 UAE local time (GMT+4)
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