Surbana Jurong Capital, the newly established financial services arm of Surbana Jurong, signed a joint venture with Mitsubishi Corporation on 14 September 2018 to set up a US$500 million Investment Fund for urban development and infrastructure projects in Emerging Asia.
Projects of interest include township (affordable/mid-range housing) and transit-oriented developments (TOD) such as aviation or rail-related developments, as well as other urban-related infrastructure. The joint venture will initially explore such projects in Myanmar, Vietnam, Indonesia, the Philippines, India and Sri Lanka.
Surbana Jurong Group CEO Wong Heang Fine said, “Emerging countries in Asia continue to see rapid economic and population growth, which drives the demand for urban infrastructure projects including transit-oriented developments and affordable housing. For project owners looking for funding, and investors looking for long-term sustainable returns, Surbana Jurong and Mitsubishi Corporation’s new fund management company will provide that capital bridge. Our JV will tap both partners’ know-how across financing and investing, as well as technical and risk analysis to deliver sustainable returns. This JV is also timely, as Singapore positions itself as the regional infrastructure hub.”