Frasers Centrepoint Trust said late Friday that it had agreed to sell the YewTee Point mall in western Singapore for S$220 million ($164 million), the latest in a string of divestments for the SGX-listed REIT.
In a press release, the… Read More>>
GIC Invests in $1.2B US Retail JV with RPT Realty, Monarch, Zimmer
Singapore sovereign wealth fund GIC has made a further bet on middlebrow American retail by investing in a joint venture with New York-listed RPT Realty and two other US-based partners, targeting the acquisition of over $1.2 billion in strategic assets.
Link REIT Buying Half-Stake in Vanke Shanghai Mall for $429M
Asia’s largest real estate investment trust has returned to its retail roots as Link REIT announced today that it has agreed to buy a half-stake in a suburban Shanghai shopping mall for RMB 2.77 billion ($429 million).
Link REIT’s choice… Read More>>
Ingka Centres to Spend $759M Developing India’s First IKEA-Anchored Mall
A sister firm of IKEA is the latest global player to bet big on growth in India after buying a land parcel near Delhi for development into a mall anchored by the big-box retailer.
Ingka Centres, which develops shopping complexes… Read More>>
CapitaLand Sells Japan Malls, Seoul Office for $335M, Unveils Logistics JV With Mitsui
CapitaLand’s shift to a strategy aligned with an increasingly digital economy continues, with the Singaporean developer on Tuesday announcing the divestment of three Japanese malls and a Korean office tower for a combined S$448.7 million ($335 million), and the acquisition… Read More>>
Gap Shuts Central Store as It Closes Up Shop in Hong Kong
US fast fashion retailer Gap is closing its doors in Hong Kong as it follows through on plans to shut its remaining stores in the world’s most expensive retail market by the end of November, according to Apple Daily.
The… Read More>>
Li & Fung Retail Unit Sells Hong Kong Circle K Stores for $360M
After resetting itself as a private corporation last year, Hong Kong trading firm Li & Fung’s restructuring continues, this time with the sale of its Hong Kong and Macau Circle K stores to Quebec-based convenience store operator and brand owner… Read More>>
CapitaLand China Retail REIT Recaptures 89% of 2019 Traffic
CapitaLand Retail China Trust (CRCT) has reason for optimism after its portfolio of mainland China shopping malls enjoyed a surge in third-quarter footfall and tenant sales.
Shopper traffic in the quarter recovered to 89 percent of year-earlier levels as tenant… Read More>>
Alibaba Buying Out China’s Sun Art Retail for $3.6B
E-commerce giant Alibaba continued to expand its offline retail empire today with a deal to take control of China’s largest hypermarket operator for HK$28 billion ($3.6 billion).
The Hangzhou-based company said in an announcement to the Hong Kong stock exchange… Read More>>
Wanda Commercial Revenue Halves in H1, Stays on Course to Open 50 Malls Yearly
Dalian Wanda Group last week said that it is sticking to its plan to open 40 to 50 new plazas each year despite steep declines in revenue and profit at the conglomerate’s real estate and hospitality businesses during the first… Read More>>
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