Australand to remain a key investment for CapitaLand Group

CapitaLand Limited ("CapitaLand") wishes to announce that it has completed the strategic review of its interest in its subsidiary Australand and concluded that Australand will continue as a key investment for CapitaLand. During the review, Australand had received indicative proposals for the whole and parts of its business but none of them have been sufficiently compelling.

Australand will continue to provide CapitaLand with a stable stream of recurring income. It is well-positioned to benefit from its portfolio of quality commerical and industrial properties and is one of Australia's largest industrial development businesses. It is also well placed to benefit from the improving outlook for the residential sector in key Australian cities.