CapitaMalls Plans $1 Billion Chinese Mall, Office Joint Venture
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CapitaMalls Asia Ltd. said it agreed to form a venture to invest 6.7 billion yuan ($1.05 billion) in a shopping mall and office development in the eastern Chinese city of Suzhou to expand in its biggest market by assets.
The development will include a retail mall and two office towers, and will be jointly owned by Suzhou Industrial Park Jinji Lake Urban Development, the master developer of the city’s business district, the Singapore-based retail property owner said in a statement today.