CapitaLand sells three Japan malls, Seoul office block for S$448m; enters Japan logistics sector

Singapore

CAPITALAND has divested three malls in Japan and an office building in South Korea for a total of S$448.7 million, as part of its ongoing portfolio reconstitution strategy, it said on Tuesday morning in a bourse filing.

It also announced that it has made its first foray into Japan's logistics sector, entering into a joint venture with Mitsui & Co Real Estate, with CapitaLand as the majority partner, to develop and operate a logistics project in Greater Tokyo.