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Singapore's GIC to buy rest of Italian shopping centre

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GIC has agreed to buy the remaining 50 per cent stake in Italy's RomaEst Shopping Centre from a fund managed by CBRE Global Investors for an undisclosed sum, the Singaporean sovereign wealth fund and CBRE said in a joint statement on Monday - PHOTO: BLOOMBERG

[HONG KONG] GIC has agreed to buy the remaining 50 per cent stake in Italy's RomaEst Shopping Centre from a fund managed by CBRE Global Investors for an undisclosed sum, the Singaporean sovereign wealth fund and CBRE said in a joint statement on Monday.

RomaEst is located in Lunghezza, about 14 kilometers (8.7 miles) east of central Rome, the transaction will make GIC the sole owner of the shopping centre.

RomaEst comprises of a mall of 208 units, a hypermarket and a 12-screen cinema and the centres main tenants include both international and national brands, the statement added. - Reuters