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GIC, Canada pension fund to buy Seoul mall for US$263m

Investment reflects confidence in long-term growth of Korean domestic demand, says GIC
Tuesday, May 19, 2015 - 05:50
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The mall, which sits next to the major transportation hub Sindorim Station in Seoul, was completed in 2011. It occupies about 116,000 sq m of space in D-Cube City, a multi-use project that includes a theme park, a hotel, offices, residences and an arts centre.

GIC and the Canada Pension Plan Investment Board (CPPIB) have bought the retail mall portion of South-Korean megacomplex D-Cube City for US$263 million, the acquirers announced on Monday.

GIC, which helps to manage Singapore's reserves, will own a 50 per cent stake in D-Cube Retail Mall,