March 16 (Reuters) - Stockland Corporation Ltd SGP.AX :
* CONFIRMED EXCHANGE OF CONTRACTS WITH CELESTINO DEVELOPMENTS FOR ACQUISITION OF UNDEVELOPED PORTION OF ' GABLES'
* CO BUYS PROJECT FOR $415 MILLION ON CAPITAL EFFICIENT TERMS, INCLUDING AN INITIAL UPFRONT PAYMENT OF $40.2 MILLION
* WILL START SELLING LAND AT GABLES AFTER SETTLING ON PROJECT IN APRIL, EXPECT TO REALISE OPERATING PROFIT FROM FY21