Keppel Land

Keppel Land: Entered into a conditional JV with Sri Lankan property dev CT Properties to develop 260 high-end condo residences on a 1.25 acre site in Colombo, the capital of Sri Lanka. Keppel Land will hold a 60% stake in the JV and the project is estimated to cost approx $70.0m. The project will target the well-heeled and is located north of Fort, the CBD of Colombo. Keppel Land trades at current P/B of 0.89x, and peer Capitaland at approx 0.84x