Property group Australand’s major shareholder is reviewing its investment in the company.

Capitaland, a major real estate company based in Singapore, intends to conduct a strategic review of its investment in Australand, the local company said on Thursday.

Capitaland holds a 59.3 per cent stake in Australand, and its group deputy chief executive Olivier Lim is also Australand’s chairman.

The company’s shares were up two cents at $34.6 at 1403 AEDT.

Australand has recently been the subject of takeover action, rejecting an offer from property group GPT in December and also rumoured to be in the sights of Mirvac.

Australand owns commercial, industrial and residential properties across Australia.