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CRCT, CapitaLand to buy RMB3.36b mall in Guangzhou

Kalpana Rashiwala

Kalpana Rashiwala

Published Tue, Nov 28, 2017 · 09:50 PM
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Singapore

CAPITALAND and its sponsored real estate investment trust CapitaLand Retail China Trust (CRCT) have formed a joint venture (JV) to acquire all the shares in a company that owns Rock Square mall in Guangzhou's Haizhu District.

The total purchase consideration payable is about RMB3.36 billion (S$688.9 million).

The transaction is expected to be completed by Q1 2018.

CRCT is the majority shareholder with a 51 per cent stake in the JV, while CapitaLand owns the remaining 49 per cent.

This marks CapitaLand's second mall and CRCT's first in Guangzhou, one of China's four first-ti…

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