CRCT proposes to buy five business parks, remaining stake in mall for 4.95b yuan
Properties are in China's Tier 2 cities and they have an occupancy rate of more than 90 per cent
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Vivienne Tay
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Singapore
THE manager of CapitaLand Retail China Trust (CRCT) has proposed to buy interests in five business park properties and the balance 49 per cent interest in its Rock Square mall asset for an agreed property value of about 4.95 billion yuan (S$1.01 billion) from related parties.
The five business park properties are located in Suzhou, Xian and Hangzhou, while Rock Square is located in Guangzhou, the real estate investment trust's (Reit) manager said in a bourse filing on Friday.
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