Mexico City, July 29th, 2010. Temasek Holding, a global investment firm based in Singapore, agreed to partner with Impulsora Mexicana de Desarrollos Inmobiliarios (IMDI), a developer based in Queretaro, to acquire, develop and sell land in Mexico in order to build housing for the middle class.

The partnership plans to start operations in the third quarter of 2010 with a capital of $200 million dollars. “Mexico is an economy in transition, which creates opportunities for Temasek to expand its investments in the country in sectors such as real estate.

In addition, the growing middle class is a pillar for the long-term growth of Mexico" said Lorenzo Gonzalez Bosco, CEO of Temasek Holdings Mexico.