Malaysian sovereign wealth fund in talks to sale stake in property JV

Malaysian sovereign wealth fund Khazanah Nasional has plans to dispose of its 60 percent stake in property developer M+S to its joint venture partner, Singapore state investor Temasek Holdings, according to media reports.

The joint venture was launched in June 2011 to develop four land parcels in Singapore’s Marina South and two land parcels in Ophir-Rochor as part of the Marina One and Duo integrated developments. The mixed-use projects have a combined gross development value of $8 billion.

DealstreetAsia reported the sale could be part of a divestment plan of lowering debt.