Alibaba is in talks to acquire a portion of the China operations of German retailer Metro, according to a Thursday report by Reuters, as the company that handles nearly 60 percent of China’s online shopping continues to look for ways… Read More>>
Suning Buys 37 Wanda Department Stores for Under RMB 8B
Dalian Wanda has sold 37 department stores to Chinese retailer Suning.com for an amount estimated to be less than RMB 8 billion ($1.18 billion) as China’s largest commercial developer continues a two-year sell off of overseas and non-core assets after… Read More>>
Indonesia’s NWP Retail Raises $200M From KTCU, CITIC and Warburg Pincus
Indonesian mall developer and operator NWP Retail on Monday announced that it had received $200 million in investment from the Korean Teacher’s Credit Union (KTCU) and a fund managed by CITIC Securities, as well as from its primary backer, Warburg… Read More>>
Arch Capital Snags Taiwan Mall for $450 Million in JV Deal
Hong Kong-based Arch Capital Property Advisors has spread its investment wings into Taiwan’s commercial sphere, acquiring the Taimall Shopping Center in Taoyuan for about NT$13.8 billion ($450 million) on behalf of an an unidentified institutional investor, who partnered with Taiwanese investment… Read More>>
HK’s Causeway Bay Again Home to World’s Priciest Shopping Street
Russell Street in Hong Kong’s Causeway Bay outstripped Fifth Avenue in Manhattan to become the world most expensive retail street for the first time in five years, according to a survey of retail locations released this week.
Shops and mall… Read More>>
Mainland Bank Leases Storefront in Central’s Wheelock House at 55% Discount
China’s Bank of Communications appears to be taking advantage of a sustained slide in Hong Kong retail rents to expand its footprint in the city’s Central district at a rent less than half of what an earlier tenant paid for… Read More>>
Taubman South Korean Project Takes Gold Award at ICSC Asia Event
The Asian arm of US mall operator Taubman Centers has won recognition for its achievements in the design and development creativity of the Starfield Hanam Shopping Center in South Korea, according to a media release.
Taubman Asia took home a… Read More>>
Tencent Forms RMB 1.2B Greater China Grocery JV with ParknShop and Yonghui
Chinese internet giant Tencent is forming a RMB 1.2 billion (US$170 million) grocery joint venture with Shanghai-listed supermarket operator Yonghui Superstores and Hong Kong’s ParknShop, according to a joint statement by the three companies.
The move will further boost Tecent’s… Read More>>
Tencent Ties Up with Sun Hung Kai to Push Mobile Payment in Hong Kong
Technology giant Tencent has expanded its network of cooperation agreements with property firms to Hong Kong with the maker of the mainland’s ubiquitous WeChat app last week announcing a partnership with Sun Hung Kai Properties.
Tencent is now working with… Read More>>
Blackstone Said Buying 10 HK Retail Assets From Link REIT for $1.28B
Blackstone is acquiring a set of ten community retail properties in Hong Kong from Link REIT for HK$10 billion ($1.28 billion), according to an account in the city’s Ming Pao newspaper, citing sources familiar with the transaction.
The reported retail… Read More>>
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