CapitaLand, Southeast Asia’s biggest developer, and its partners are acquiring a development site in China’s Western Chongqing city for $1.02 billion, Bloomberg reports. The project comprises a shopping mall, residential space and offices.
CapitaLand and its retail property unit CapitaMalls Asia will each have a 25 percent stake in the project, while Singbridge Holdings and other partners will own the rest. The project, likely to cost a total of $3.309 billion, will be CapitaLand’s third shopping mall in the city. The company already owns 40 retail properties in China.
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Southeast Asia China CapitaLand CapitaMalls Asia Singbridge Holdings