A subsidiary of Keppel Land, Keppel Puravankara Development (KPDL), has entered into agreements to acquire a prime 3.09-hectare site in Yeshwantpur, Bangalore, India.
The seller of the land is Metro Cash & Carry India.
The sales price was $81 million.
Keppel Land holds a 51 percent stake in KPDL, while the remaining 49 percent is held by listed Indian property developer, Purvankara.
The 1.18 million-square-foot combined office and retail facility would be the first commercial development in the South Asian nation for Keppel, which has been partnering with Indian developer Puravankara on residential projects in the country since 2005 via KPDL.
