CapitaLand sold a 49% stake in Mubadala CapitaLand Real Estate to Five Square Properties for $73m.

CapitaLand, one of Asia's largest real estate companies, sold a 49% stake in Mubadala CapitaLand Real Estate, a company incorporated in the United Arab Emirates to undertake residential development projects, to Five Square Properties for $73m in cash. The sale is in line with CapitaLand’s approach towards disciplined portfolio optimization through capital recycling.