CapitaLand signs mall management contract in Xi'an, China
CAPITALAND Mall Asia said on Tuesday that it has inked a shopping mall management contract in Xi'an, its second in western China within a span of five months.
CapitaLand will manage the shopping mall in La Botanica - a township located in Xi'an's Chan-Ba Ecological District - that is being developed by CapitaLand-Henderson (Xi'an) Property Development, a joint venture between CapitaLand and Hong Kong-based Henderson Land.
Under the contract, CapitaLand will oversee asset planning, pre-opening and retail management for a five-storey shopping mall - four levels above ground and one basement level - with a gross floor area (GFA), excluding car park, of about 50,000 square metres. It is expected to be operational in 2019.
This deal follows CapitaLand's announcement last August that it is managing the retail component of Fortune Finance Center in Changsha, China, for Changsha Pilot Investment Holdings. Including the mall in La Botanica, CapitaLand now manages a portfolio of 14 shopping malls in western China with a combined retail GFA of about 1.13 million sq m.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results